The overall local media market will reach $149.4 billion by 2015 at an annual growth rate of 1.7%, according to a forecast from advisory firm BIA/Kelsey. Total local advertising revenues for 2011 will total $135.9 billion, a slight decrease compared with the $136.2 billion the firm forecasted back in March.
Direct media advertising revenue will increase by 0.5% this year, according to media firm MagnaGlobal's revised forecast for 2011. The firm had predicted in April that the category would grow by 0.8% this year. It downgraded projected growth for direct mail from a 1.1% increase to 0.2%. MagnaGlobal also downgraded its overall US ad revenue forecast from 3.1% growth to 2.9% growth.
Trade group the Yellow Pages Association will rebrand as the Local Search Association on April 18. The organization decided to change its name because a growing number of its members now work in digital search, said Negley Norton, president of the group.
It's hard to keep up with all of Google's product announcements, but one that caught my eye this week was its release of "Hotpot."
Local search company Yellowbook launched a series of services on October 28 to help small businesses track social media activity and measure the results of their marketing efforts online.
Yellow Pages and local search company RH Donnelley emerged from Chapter 11 bankruptcy protection on February 1 under a new name: Dex One Corporation. The company will continue to offer its Dex-branded suite, which includes online and mobile search services, print yellow pages directories, voice-search platforms and pay-per-click networks.
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