Williamsburg, Va.—Local online media revenue is expected to reach $19.9 billion this year, growing 21.3%, according to a study published by Borrell Associates. “Local Online Media: 2011 Revenue Survey” found that local online media revenue increased 21.0% last year to $16.4 billion.
At the current rate of growth, Borrell Associates predicted that newspapers may no longer control the lion's share of local media next year. “As print newspaper share continues to slip and the popularity of mobile advertising skyrockets, online media are likely to topple newspapers within two years. If that occurs, it would be the first time in media history that newspapers didn't hold the No. 1 position,” the study said.
To complete the study, Borrell Associates last year surveyed 5,756 media companies in the U.S. and Canada via phone and email.