The study finds however, that the industry is continuing to evolve onto a digital platform, with restaurants, local government offices and food products embodying 11.2% of all online usage. With an online component making up nearly 17.2% of the market, and growing at double-digit rates, the industry is still performing these same tasks, albeit on a different platform.
Yellow pages publishers saw online revenue continue its double digit revenue increase to reach $2.33 billion in 2010 while the print revenue declined to $11.24 billion as the industry battled the double punch of a tough economy and an ever strengthening search engine world led by Google. Simba projects online will continue its double-digit growth rate through 2013 when it will top $4.24 billion, or 33.4% of total revenue of $12.71 billion.
Though masked by this growing venue, ad spending in the yellow pages national channel took a sharp decline of 16.2% in 2010, its third consecutive decline in double digits. National yellow pages spending is projected to decline an additional 12% to $1.47 billion in 2011. The entire yellow pages industry is projected to decline 5.5% to $12.82 billion in 2011.
Spending on local yellow pages advertising declined 11.1% in 2010 and is projected to decline again in 2011. Local yellow pages ad spending, which accounts for the bulk of the dollars generated by the industry, declined 11.1% in 2010, according to Simba Information research. Local yellow pages ad spending is projected to decline an additional 4.6% in 2011.
According to the report, 2011 is not going to be much better for the industry with a 5.5% decline projected to $12.82 billion. The industry is expected to face another decline of 3.4% in 2012 before a brighter outlook in 2013, posting a slight increase of 2.5%.
Published annually since 1986, Yellow Pages Market Forecast 2011 includes extensive company profiles of the leading RBOC, Telco and independent publishers, as well as printers and suppliers, as well as forecasts for the advertising, publishing, online and print segments.
For the Simba Information editor's summary and to acquire the complete report, please visit here.