Report: Local Digital Revenue to Reach $38.1B by 2016

In its updated U.S. Local Media Forecast, BIA/Kelsey says interactive and digital ad revenues are growing by 12.4% per year. Within the local media sphere, search encompasses a slim majority, 51%, of online ad revenues, with the local search market, projected to reach $10.2 billion by 2016, outpacing the rate of growth of overall search. The report projects 16.2% annual growth in the local display market, reaching $5.1 billion by 2016.