One look inside the new BIA/Kelsey local search forecast for the next 5 years should get traditional radio to react quickly. This forecast provides another wake-up call for the struggling medium. What the forecast tells us is that radio must act now to siphon off some of the incredible amounts of money being spent on search advertising. According to the forecast, local search dollars will reach $8.2 billion by 2015. That's a compound annual growth rate of 10%. When was the last time you heard of anything growing 10% ???
Driving the growth in ad revenues is a continuing increase in local search activity and there's better news. By 2015, BIA/Kelsey expects 30% of search volume will be local. Matt Booth, BIA/Kelsey Sr. VP says that "Local search ad revenues hit an all-time high last year, driven primarily by better product integration across search engines, especially Google." Memo: Radio Station General Managers: if you don't have a search bar on your website, you are in trouble! Booth adds that "Revenues will continue to grow as better targeting, increased mobile usage and improving integration drive up local search activity." The outlook for interactive local media is part of BIA/Kelsey's U.S. Local Media Annual Forecast (2010-2015). In addition to local search, the interactive local media forecast covers the overall search market, display and local display advertising and email, reputation and presence management...
The complete forecast is available to clients of BIA/Kelsey's Interactive Local Media advisory service. Whether you become a member or not is not my business but be advised that in order to be on a level playing field with the rest of the media world, you'd better be involved in local search activity...
Timeline Memories:
1958] Released: "Splish Splash" - Bobby Darin (released as the first 8-track master recording pressed on a plastic 45-rpm disc)...1973] "Kodachrome" - Paul Simon...
1960] The King is dethroned: Alan Freed is arrested with 7 others on suspicion of commercial bribery. Freed refused to sign an affidavit in 1959 denying he had accepted payola. Although payola was not yet a crime, Freed is charged with 26 counts of commercial bribery but escapes with just a fine. His career, however is ruined...
1960] Recorded: "Save The Last Dance For Me" - Drifters...
1962] "Happy Birthday Mr. President": Marilyn Monroe performs a sultry rendition of "Happy Birthday" for President John F. Kennedy with Jackie by his side at a fund raiser at Madison Square Garden...
1965] Number One: The Beatles top the charts with "Ticket To Ride", their first single to feature Paul McCartney on lead guitar...
1973] Big Red romps: The great Secretariat, winner of the Kentucky Derby, wins the Preakness Stakes by 2 1/2 lengths. In three weeks, perhaps the greatest thoroughbred of all-time will run away with the Belmont Stakes...
1992] Veep speak: Vice President Dan Quayle criticizes "Murphy Brown" because the title character has a baby out of wedlock...
1994] Happy Trails: Former first-lady Jacqueline Kennedy Onassis passes away from cancer at 64...
"Happy Birthday...happy birthday": Kevin Garnett (35), Grace Jones (59), Pete Townshend (66), Nora Ephron (70), David Hartman (76) & Jim Lehrer (77)...
Timeline Countdown: 11 days until Memorial Day, 31 days until Fathers Day, 34 days until summer & 46 days until July 4th...
