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In 2009, $155 billion was spent on local advertising in the US. Yet only seven percent of that figure was spent online. Market trend projections predict that 50% of local advertising revenue will be spent online within the next 7 years. That means that $77 billion will leave traditional advertising venues. Recent advances in online advertising such as online coupons will only serve to accelerate this trend.
You may have read the recent news item, "Groupon rejected Google’s $6 billion acquisition offer." According to Chicago Breaking Business and Bloomberg, Groupon decided that it was better off on its own.
What many people did not read was the fact that Google reported revenues of $6.77 billion in the first quarter of 2010, representing a 23% increase over first quarter 2009 revenues of $5.51 billion.
