As if the news of yesterday regarding display ads wasn’t troubling enough there is more down news about a traditional providerof growth in internet marketing: the local ad market. As reported in the WSJ the local ad market is slowing down like other areas of internet marketing. Here’s a summary of the situation.
Online spending by local U.S. advertisers, which grew by 45% in 2008 to $12.7 billion, is expected to see growth fall to 5.4% in 2009, according to media-research firm Borrell Associates. Total U.S. online ad spending is expected to be about flat, declining 0.3% to $36.9 billion in 2009, compared with growth of 8.5% in 2008, Borrell says.