The Local Content industry is enormous and poised to make an historic shift from "traditional media" sources to digital media. Understanding the Local Content industry is critical to understanding why MetroGuide has chosen to target this industry.
Traditional sources of Local Content include:
Traditional media typically monetize the audience for Local Content via advertising. Market estimates vary in size, but there's little dispute over the fact that the local advertising market is enormous. Approximately $60 billion annually is spent by local businesses targeting local consumers, and layered on top of that is approximately $70 billion spent each year by national advertisers trying to reach a local audience.
There's also little doubt that this massive spending to reach local audiences is going digital. Borrell Associates estimates that local online advertising will grow 31 percent in 2007, hitting $7.7 billion, dominated by search and e-mail marketing.
Yet the market remains highly fragmented and opportunities abound. With so much at stake, the number of companies in the Local Content space, either converting their existing business models, or building completely new business models, is growing rapidly. No one can say for sure how it will shake out, but it's certain that the industry is in for rapid changes in the near future.
Whatever the changes, MetroGuide.com, Inc. has the operating history, strategy, technology and brands to become a major player in the industry in 2007. "Stay tuned," and watch us grow.
| Additional Reading: | Borrell Associates Kelsey Group Local Onliner |