Some useful US data on property classifieds from Borrell Associates.
— 2007 YTD US property classified revenues (total market): down 3%
— 2007 YTD US property digital classified revenue: up 25.8%
Here’s Borrell’s forecast for property classifieds this year:
And the future? Well, the report suggests that online property classifieds will overtake print ads by value in five year’s time. Like this:
Interestingly, the numbers assume that the total spent on property advertising in the US will be roughly similar in 2007 and 2012. Granted, this assumes some shrinkage in real terms (after inflation).
Even so, it flies in the face of conventional wisdom (a la McKinsey) that online dominance will be accompanied by a smaller overall pot of advertising investment.
(Thanks to Paid Content for the link.)