Some of you have been waiting for the “big shift” for years. Seems the reality of mobile local advertising is at last poised to catch up with the fantastical predictions we’ve made for the past decade. Phew.
Reported by Mediaweek from the study by BIA/Kelsey, local mobile advertising will blast off for the next five years growing at an annual rate (compunded) of 57%! This means from 2009 to 2014 the local mobile advertising spend will have grown 10-fold, from $213 million to two. beeleon. doh-lars. That’s a lot of iAds.
Other interesting predictions:
- By 2014, digital media will make up 24 % of total local advertising spending, growing from $19.6 billion in 2010 to $35.2 billion
- Total local ad spending will grow from $133.3 billion in 2010 to $145.2 billion, a modest compound annual growth rate of 2.1 percent.
This post originally appeared on Locl.ly.