Stamford, CT - April 14, 2011 - Long thought of as the Baby Boomer search engine, the yellow pages industry has been redefining itself in the digital age, evolving into an online platform performing the same task as it has for over one hundred years: bringing buyers and sellers together. According to Simba Information's latest report, Yellow Pages Market Forecast 2011, after shrinking 25.2% since 2003, the industry will finally stabilize in 2013 with a 2.5% gain to reach $12.1 billion.
As the original search engine, the yellow pages have remained a reliable source for local information, with restaurants, physicians and auto repair shops comprising 22.3% of all print usage. Although resistant at first, the report finds the industry is continuing to evolve onto a digital platform, with restaurants, local government offices and food products embodying 11.2% of all online usage.
"The leaders of the industry, the RBOCs-AT&T, DexOne and SuperMedia-did not adopt an online model right away, rather focusing only on print," said David Goddard, senior analyst for Simba's yellow pages group. "Now with an online component making up nearly 17.2% of the market and growing at double-digit rates, the industry is still performing the same task just on a different platform."
After declining for a decade, the industry has revamped itself in the digital age, launching new services including mobile apps and directory websites. By focusing on the online platform, the industry is keeping on track with new technology, which has allowed it to stabilize. According to the report, total usage of the yellow pages has remained unchanged since 2006 at 16.7 billion; the only difference is that the internet now holds a 30% share as of 2010, gaining 10% in four years.
"I constantly get the message from the Gen-Y and even the Gen-X crowd condemning the yellow pages as a dying industry," added Goddard. "In fact, it's not dying and it's essential; it is one of the few segments of the advertising media market that is not suffering a market share decline, but, despite some ups and downs over the past decade, actually holding the same share of 7.6% in 2000 and 2011."
Published annually since 1986, Yellow Pages Market Forecast 2011 is the industry's premier market report. It includes extensive company profiles of the leading RBOC, Telco and independent publishers, as well as printers and suppliers. It also includes forecasts for the advertising, publishing, online and print segments and an analysis of the various trends affecting the industry.
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