ITV Local prepares to attack £4bn local classifieds market

ITV Local is linking up with ThinkProperty.com, part of  Guardian Media Group, to launch a new property area on the site.

From July, ThinkProperty.com will be ITV's property search partner. ITV Local's property channel currently only has videos on house projects and DIY tips.

ITV Local will also launch a co-branded portal with utility advice site uSwitch. Launching in two weeks' time, the site will provide ITV with commission based on people switching bill providers through the site.

The expansion of ITV Local is a key plank in ITV's multi-pronged strategy aimed at hitting a target of generating £150m in online revenue by 2010.

Commercial director Craig Nayman said ITV Local is expected to break even by next year. He added that ITV Local was "very much a part of" ITV's online target, and is forecasting revenues of around £7m for the year, compared with just £1m in 2007.

Nayman said: "We wanted to attack the £4bn local ad market. It is a big market to go for and we can nurture regional advertisers into bigger ITV advertisers.

"Last year, we spent time and resources on rolling out ITV Local to all the regions and did that successfully. Then, we were driving users and making sure they stayed there. Now we are starting to create traction and need to look at how to monetise that. But the criteria for partnerships is not just about the money, but also about the content."

He added that ITV Local was examining the potential launch as a mobile service this year.
ITV Local was rolled out nationally last year after ITV bought Scoot, the business directory service, for about £3m. Nayman said ITV planned to "refresh Scoot and market the brand" this autumn.
ITV Local reported a record month in May, with 900,000 unique users, up from 750,000 unique users in November last year.