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Local Corporation Set To Monetize Mobile In $2.7 Billion Mobile Advertising Market

Stocks in this article: LOCM

Local Corporation (NASDAQ: LOCM), a leading online local media company, today announced it is extending its current online infrastructure for search and advertising for local business onto mobile devices with the release of its mobile app for iOS ® and Android enabled devices. The new app provides on-the-go consumers with the ability to search for information on local businesses, including products and services.

The move marks Local Corporation’s expansion into the growing U.S. mobile advertising market, which is expected to reach $2.7 billion this year, according to BIA/Kelsey.

The mobile app is free and now available for download on the iOS platform here and the Android platform here. The app is iOS 6 compatible.

“Local Corporation expects to generate over $100 million in revenues this year by connecting local businesses with online customers. As a result, we believe we’re well positioned to monetize mobile consumers at the local level as well,” said Michael Sawtell, president and chief operations officer, Local Corporation. “We’ve received positive feedback on the app so far, and we’re confident that the app’s streamlined interface, relevant results and broad feature set will appeal to today’s mobile consumer. We believe that our expanding suite of mobile offerings unlocks new potential value across our local media platform and that we’re poised to lead in the emerging mobile local market.”

The app is one of the first local search apps to include “smart” suggestions, which proactively help consumers discover local businesses that directly meet their needs. The location-based app provides over 30 user-friendly suggestions based on the time of day, location and current weather of consumers using the app, such as “find a movie theater in my area” or “warm up with a hot beverage” that shorten the distance between search and satisfaction.

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