Despite the flurry of attention (and acquisitions) on hyperlocal news, its prospects as a viable business remain unclear.
No question there is plenty of activity in the space, as
While proponents laud (hype?) the potential market value of hyperlocal -- estimates reach $100 billion -- can anyone entice enough local advertisers to turn a profit?
Local advertisers -- Mom-and-Pop stores -- are the long in "long tail." They are the Last Mile in advertising.
You need staff to create (or at least edit) local content. And once you get there, you still have to compete with CraigsList.
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