|[December 17, 2012]
Local Corporation Launches Consumer Site for Multi-Billion Dollar HVAC Market to Expand Local Ad Revenues
IRVINE, Calif. --(Business Wire)--
Corporation (NASDAQ: LOCM), a leading online local media company,
today announced the launch of its second industry-specific, content
driven website designed to further extend its reach and engagement with
local consumers and businesses.
The company, which connects businesses with over a million consumers
each day, plans to leverage these new industry-specific sites to further
expand its reach into and monetization of local markets.
The new site, which focuses on heating,
ventilation, and air conditioning (HVAC), offers a complete
HVAC service guide that includes educational articles and provides a
variety of decision criteria for consumers who are choosing an HVAC
service provider. The site also provides the ability to request quotes,
access a comprehensive directory of local HVAC professionals, including
contact information and, where available, user ratings and reviews. The
HVAC industry is estimated to be worth $16.8 billion in the U.S.1,
and is forecasted to rise about 8 percent in 2012, and
this growth is expected to continue through 2017.2
Local Corporation expects to focus monetization of its new portfolio of
industry-specific sites primarily via lead generation, as well as
pay-per-click, pay-per-call, display and subscription ad units. The company
plans to launch additional vertical sites in other key consumer service
categories in the future.
"This effort represents another step in our lead generation and overall
performance-based ad strategies," said Carls Caponera, Local
Corporation, senior director, consumer properties. "These sites expand
our footprint and are expected to further increase consumer engagement
and traffic, as well as improve our ability to monetize this traffic via
lead generation. We're also pleased to be providing consumers with a
convenient, one-stop solution for receiving targeted information on the
specific businesses and services that they need locally."
According to BIA/Kelsey, in 2011, 30 percent of all online searches were
local searches, and were valued at $5.7 billion. The value of local
searches is expected to grow by a CAGR of 12 percent to $10.2 billion
and represent 35 percent of all online searches in 2016. Billions of new
dollars flow into digital media from traditional and online advertisers
in order to reach local consumers online, and the company expects these
new vertical sites will assist the company in claiming a larger portion
of this transitioning media spend.
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://www.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.
1 Bharat Books - http://www.goodway.com/hvac-blog/index.php/2011/01/hvac-market-outlook-for-2011/
2 IBISWorld - http://www.achrnews.com/articles/120472-july-16--2012--hvac-industry-is-projected-to-return-to-growth-in-2012--maintain-growth-through-2017
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