2010 Forecast: Local Search Rising, Classifieds Falling
According to a forecast released by the Kelsey Group last week, the online and wireless local search market is growing at a measurably greater rate than the corresponding print market. The Internet Yellow Pages, wireless, and local searches are expected to rise from the $3.4 billion they brought in last year to $13 billion in 2010, a 30.5 percent growth rate over the next four years. By contrast, the Kelsey Group sees print Yellow Pages rising by only 1.5 percent to reach $28.4 billion in the same time period.
The study also acknowledged the growing convergence of directories and classifieds, and noticed a trend in the online classifieds market that is cause for concern. A rise in popularity of a free classifieds model, most noticeably found on Craigslist.org, has significantly hampered current and projected revenues in this sector. Between now and 2010, the Kelsey Group predicts classified advertising revenues to drop a fraction of a percent from $79.5 billion to $78.5 billion.
When it comes to wireless local search, Greg Sterling, SVP of the Kelsey Group, has noticed a great deal of ambivalence: “There’s a lot of pent-up demand for mobile experiences, but the user base isn’t there to drive an advertising model.”
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