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Local Corporation Announces Record Mobile Search Traffic

Stocks in this article: LOCM

Local Corporation (NASDAQ: LOCM), a leading online local media company, today announced record mobile search traffic for the second quarter of 2013.

The company achieved mobile search traffic of 34 million monthly unique visitors (MUVs) during the second quarter 2013, up 79 percent from 19 million MUVs during the year ago period and up 6 percent from 32 million MUVs during the first quarter 2013.

“With 80 percent of local searches expected to be done via a mobile device by 2018 1, mobile continues to reshape the local search landscape. We believe our growth in mobile illustrates that we are well-equipped for this transformation,” said Heath Clarke, Local Corporation chairman and CEO. “We are uniquely positioned with five patents issued in the mobile advertising format known as pay-per-call/mobile lead generation. We expect these will become the leading ad products for monetizing local mobile searches. With advertisers committing increasing budgets to mobile, our record mobile traffic and intellectual property represent an opportunity to capitalize on this trend.”

According to BIA/Kelsey, U.S. local ad spending on mobile is expected to grow at a compound annual growth rate of 49.3 percent, from $1.2 billion in 2012, to $9.1 billion in 2017.

All site traffic and usage statistics are from third-party service providers engaged by the company. Quarterly MUV traffic is equal to the aggregate of each month’s MUV traffic numbers in that quarter. Traffic and the company’s monetization of that traffic combine to determine its revenues for any given period. The company’s traffic volume alone for a period should not be viewed as demonstrative of its financial results for such period.

1 Borrell Associates

About Local Corporation

Local Corporation (NASDAQ:LOCM) is a leading online local media company that connects brick-and-mortar businesses with over a million online and mobile consumers each day using a variety of innovative digital marketing products. To advertise, or for more information, visit: http://localcorporation.com.

Forward Looking Statements

This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words or expressions such as “anticipate,” “plan,” “will,” “intend,” “believe” or “expect” or variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Key risks are described in the filings we make with the U.S. Securities and Exchange Commission. The forward-looking statements in this release speak only as of the date they are made. We undertake no obligation to revise or update publicly any forward-looking statement for any reason. Unless otherwise stated, all site traffic and usage statistics are from third-party service providers engaged by the company. Traffic and our monetization of that traffic combine to determine our revenues for any given period. Our traffic volume alone for a period should not be viewed as demonstrative of our financial results for such period.

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