Profits Up For Local Web

Local online advertising moved from high-growth status to “boom” in the first half of 2004, according to consulting firm Borrell. Daily newspapers are averaging 43% growth, and virtually all have become profitable.

“The largest holders of local online ad share — daily newspapers — saw their ad revenues grow 43% in the first six months of 2004. At this rate, we now estimate that newspaper-run Internet operations will capture $1.14 billion this year, up from $811 million last year. Online revenue is the Botox of the newspaper industry, adding a healthy glow to print classified revenues.”
(For more on newspapers and their earnings, read our newspapers section)…

Download the briefing here (PDF)…

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