Local Online Ads Will Reach $12.6 Billion In 2008, Local Search Will Bring In $5 Billion Of That Total:
Using an expansive definition of the marketplace, Borrell Associates says that 'local online advertising' is worth $8.5 billion today. That number consists of local search, 'local banners' and local video. Banners is the biggest spending category and video the smallest. But Borrell expects local search to grow substantially and to reach almost 50% of the total local online spend next year, which is projected to reach $12.6 billion.
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