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

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%.