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Mobile and local ad spend to hit $22B by 2016

May 20, 2012 2:40 pm

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Technology and retail brands will continue to spend more money to reach customers using mobile devices looking for local offerings.

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Local advertising is expected to grow at a rate of 2.6% per year between 2011 and 2016, according to BIA/Kelsey’s new Media Ad View reports. During that time, revenue is projected to rise from about $132 billion to more than $150 billion.

BIA/Kelsey predicted that mobile and online will account for the largest increase in local ad spending, nearly doubling from $11.1 billion in 2011 to $21.8 billion in five years — an annual growth rate of 14.4%.

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