US local online adspend growth to slow
US local online advertising spending is set to slow significantly from previous levels of growth, according to new research from Borrell Associates.
The 2010 Outlook: Local Interactive Advertising report forecasts that local online ad spending will hit $14.2 billion in 2009, up 12% year on year.
2010 is predicted to see 5% growth, while over the past five years spending has increased at a compound annual growth rate (CAGR) of 46.5%
The CAGR for the next five years will be just 2.9%, due in part to a slow economic recovery, said Borrell.
A recent forecast from Magna predicted that US local advertising as a whole would fall 4.7% in 2010, with local online adspend up 3.8%.