Local mobile ad spending grew from $0.7 billion in 2011 to $1.2 billion in 2012, details BIA/Kelsey as part of a new forecast. Although that’s a slight drop from April’s forecast for this year’s local revenues, the latest outlook calls for local mobile ad spending to more than quadruple by 2016 to reach $5.8 billion. That’s a step up from the $5 billion forecast from earlier this year. BIA/Kelsey attributes the slight downgrade to slower than expected adoption by advertisers, but expects increased demand in later years, driving the expanded forecast for those years.
All other media (TV, print, radio, Yellow Pages, online/interactive) will also see growth in local ad spend, but not nearly at the pace of local mobile. Spending in those other media was $132.1 billion in 2011, and grew by just under 1% to reach $133.4 billion in 2012. The BIA/Kelsey forecast sees that spending reaching $141.3 billion in 2016. Read the rest at MarketingCharts.