US local online ad spend to jump 18 per cent next year
Growth in local, targeted and social media to fuel $16.1bn spending in 2011
Local online ad spending in the US is expected to rise by 18 per cent in 2011, to reach $16.1bn, according to a report by local online ad researcher Borrell Associates released on Tuesday.
The research firm had previously predicted that the ad spend would reach the same milestone by 2012.
The report forecasts a moderate increase in overall ad spending for 2011, but predicts continued strong growth for online advertising, including mobile.
Overall, advertisers will increase their spending next year by less than 5 per cent above this year's projected level, bringing the US ad spending totals to $238.6bn.
Online ad spend is expected to increase by 14 per cent to $51.9bn in 2011. Growth in local, targeted and social media ads will fuel this growth, the report added.
Spending on targeted display ads - such as banner ads - is expected to grow almost 60 per cent in 2011, reaching $10.9bn for national and local combined.