BIA/Kelsey: Local Drives Search Revenues
May 18, 2011: BIA/Kelsey is forecasting a 10 percent compound annual growth rate for local search revenues over the next few years, projecting that revenues will reach $8.2 billion by 2015, up from $5.1 billion in 2010. Driving that, says the firm, is a continuing increase in local search activity; BIA/Kelsey predicts that 30 percent of search volume will be local by 2015.
“Local search ad revenues hit an all-time high last year, driven primarily by better product integration across search engines, especially Google,” BIA/Kelsey SVP and PD/Interactive Local Media Matt Booth said. “Revenues will continue to grow as better targeting, increased mobile usage, and improving integration drive up local search activity.”
The local search projections are part of BIA/Kelsey’s “U.S. Local Media Annual Forecast (2010-2015).”