Overall Internet ad spending is supposed to reach almost $62 billion by 2011 and surpass all other media according to private equity and investment firm Veronis Suhler Stevenson (VSS).
The firm projects paid search will reach roughly $8.7 billion by year end and $16.7 billion in 2011. It also projects roughly $6 billion in local search and online yellow pages spending by 2011. All locally targeted online ad spending is expected to reach just over $19 billion by 2011. But here’s the local online ad spending part from the MediaPost article writing up the forecast (click to enlarge):
Source: MediaPost, VSS
To those who would claim the forecast is inflated, VSS says it has the best forecasts in the market:
The VSS Forecast also features the industry’s most accurate spending forecasts, producing a margin of error of +/- 2% for 9 of the last 10 years. The margin of error for the 2006 forecasts was + 0.4%.
I’ve also written up the findings at SEL. The only thing missing here is mobile, as an extension of local and/or Internet ad spending.