Study: Station '08 Web Revenue to Be $1.2B5/30/2008 08:00:00 PM Eastern
TV stations' online revenue is expected to jump from $772 million last year to $1.2 billion in 2008, reported a new study from Borrell Associates.
Borrell surveyed more than 3,100 local media properties, including 613 TV stations in the United States and Canada.
It predicts eye-popping growth for local online media in general. “Local online revenues are growing at a phenomenal rate of 50% this year—even more astonishing considering that retail sales have suffered such a sharp drop,” the study says.
Borrell predicts $13.1 billion in “local online advertising” for the year, up from $8.7 billion last year. Newspapers are slated to grab $3.7 billion of the 2008 pie, more than triple broadcast's total.—Michael Malone