A new article from the Boston Consulting Group sheds some light on the world of online local advertising, a $21.2 billion market in the U.S. and cited often by a variety of players from AOL’s hyper local network of news sites, Patch, to Yahoo as a the holy grail of ad dollars.
Google just put out a study touting metrics as a way to sell more advertising.
But the most interesting part of the study is the timing. It comes on the heels of the Facebook advertising fiasco, when just days before its hotly anticipated IPO, General Motors said it would stop advertising on the social network, raising the question of the value of a Facebook ad.
The newspaper industry had a lot of bad knocks this year. Advertising revenue continued to decline, when just about every other media sector — like local broadcast TV, for example – rebounded beautifully. For newspaper companies the term “moderating ad revenue declines” has become the new flat.
Google wants its online news site to feel more like the good old print product.
And the company is prepared to pay for it.
Google took the wraps off of Fast Flip on Monday, a slick online tool that lets readers flip through articles from newspapers and magazines as quickly and effortlessly as if they were turning the pages of a magazine.