ReadWrite Web writes:

Research firm Borrell Associates predicts that 2008 online spending for local advertisements will jump 48% to $12.6 billion driven by a demand for paid search and video ads, according to a report on NewsFactor. Search ads will make up the brunt of the local online ad spend in 2008, says Borrell, doubling to $5 billion. Locally targeted video ads are also expected to experience massive growth and rake in up to $1.3 billion.

That’s great news for local oriented sites!