The local media market has long been owned by local TV stations, newspapers and Yellow Pages. While the recession definitely slowed this market, the recovery, paired with marketer interest in new forms of media, means the industry is looking at big changes in 2010. BIA/Kelsey analysts value this market at $140 billion. Neal Polachek, president at BIA/Kelsey predicts, “[a]s the economy inches toward recovery and digital media continue to gain ground aided by mobile and social momentum, 2010 will certainly be a pivotal year to track.”
Here’s what the research shop sees happening in the local media market in 2010.
Search Market Recovery – The increased activity in the market will mean higher costs for advertisers active in paid search.
Yellow Pages – These publishers will seek to diversify their products and may move into mobile search.
Local Broadcasters – These business will operate from a position of strength with their expertise in local brands, content and sales forces.
Vertical Ad Networks – This rapidly changing channel may find money in hyper-local sites and local lifestyle networks.
Twitter/Facebook – Analysts expect social media outlets to monetize their models by offering geo-targeted audiences.
It’s too soon to tell which of these predictions will prove most accurate. But businesses looking for new ways to reach customers in local marketers have no shortage of options to try.[Source: BIA/Kelsey Analysts Identify Key Local Media Trends to Watch in 2010, Company release, January 2010]