Williamsburg, Va.—Local online advertising revenue will reach $24.5 billion this year, up 30.8% over last year, according to a report from Borrell & Associates.
The report, “2013 Local Advertising Outlook,” found the top online spending tactic for local advertisers this year will be targeted display advertising, making up 32.0% of total local online advertising. It will be followed by paid search (27.5%), run-of-site display ads (20.3%), streaming video (16.0%), email marketing (3.0%) and streaming audio (1.2%).
The forecast was based on an online survey of 1,756 small and midsize businesses, conducted in December.
According to the survey, 54.0% of respondents said they will spend the same on total advertising this year as last, 20.0% will spend more and 16.0% will spend less.