Just received the press release announcing the new interactive ad revenue forecast by The Kelsey Group. Highlights:

Global (2007-2012):

• Ad revenues (currently at $600B) to grow at a compound annual growth rate (CAGR) of 2.7 percent and reach US$707 billion in 2012.
• Interactive ad revenues will increase from US$45 billion in 2007 to US$147 billion in 2012 (a 23.4 percent CAGR).
• Directional advertising, which comprises local search, print Yellow Pages and Internet Yellow Pages (IYP), will go from US$33.3 billion in 2007 to US$41.4 billion in 2012 (4.5 percent CAGR)
• Local search revenues will grow from US$2.1 billion to US$6.6 billion (25.5 percent CAGR).
• Print Yellow Pages revenues will decline from US$27.5 billion to US$25.6 billion (-1.4 percent CAGR).
• IYP revenues will grow from US$3.7 billion to US$9.2 billion (20.1 percent CAGR).

US (2007-2012)

• Interactive advertising revenues: from US$22.5 billion to US$62.4 billion (22.6 percent CAGR)
• Directional advertising revenues: from US$16.4 billion to US$18.8 billion (2.8 percent CAGR)

Canada (2007-2012)

• Interactive revenues: from US$1.3 billion to US$3.3 billion (21.3 percent CAGR).
• Directional revenues: from US$1.4 billion to US$1.9 billion (5.8 percent CAGR).
• “Canada is one of the markets in which The Kelsey Group expects growth in the print Yellow Pages segment, forecasting a 1.8 percent CAGR for print directories in Canada during the forecast period.”

According to Charles Laughlin from the Kelsey Group, they expect “printed directory revenues to decline in most global markets over the forecast period, though print will remain the most important source of leads for small businesses. For directory publishers to succeed, they will need to invest time, energy and resources in both channels to minimize the decline in print and maximize the opportunity online.”

Reporting on the same press release, MediaPost added that “ the forecast does not include mobile ad platforms.”

Update: Techcrunch chimes in.