"Local advertising across newspapers, direct mail, TV, radio, yellow pages, outdoor, magazines and online is expected to slip to $144.4 billion by 2013, down from $155 billion last year, says BIA.

Local ad revenue may hit a low of $135.8 billion in 2010, before climbing a bit in 2011, according to BIA (via Adweek).

Some media, including newspapers, local TV, radio, print yellow pages, and local regional magazines, will need to rethink their traditional business models and look to the internet to find new revenue streams in order to survive. Radio and TV internet revenue will climb to $1.9 billion in 2013, from $805 million last year, according to some estimates.

But other media, including outdoor and direct mail, may be in for a tougher challenge." (2009, Mediabuyerplanner.com)