In 2024, the revenue generated by local business review platform Yelp amounted to over *** billion U.S. dollars, up from **** billion U.S. dollars in the previous year. Overall, 2020 saw the company's first decline in annual net revenue, seeing a ** percent decrease from 2019.

The yellow pages industry, while facing significant disruption from digital directories and online search engines, retains a niche market, particularly among older demographics and businesses reliant on traditional advertising methods. The market, estimated at $5 billion in 2025, is experiencing a slow decline, reflected in a CAGR of -2% (this is an estimated CAGR, reflecting the likely decline considering industry trends). Key drivers historically included high brand recognition and established trust among consumers. However, the primary trend is the ongoing migration to online search and digital advertising platforms like Google My Business and Yelp. This shift has led to significant restraints, including decreased advertising revenue and intense competition from more dynamic and cost-effective digital solutions. Segmentation within the industry includes print directories, online directories (often integrated with other services), and specialized niche directories catering to specific industries or geographic areas. Major players like SBCDO, Verizon, and Yell Group are adapting by integrating their services with online platforms or focusing on specialized market segments to maintain relevance. The historical period (2019-2024) likely witnessed a steeper decline than the projected future, as companies adjusted to the digital shift and consolidated operations. The forecast period (2025-2033) anticipates a continued, though slower, decline, suggesting the industry will find a stable, albeit reduced, market presence focusing on specific segments and geographic areas where digital penetration remains lower. The long-term outlook hinges on the ability of major players to successfully integrate their services into the digital landscape, perhaps targeting specific demographics less reliant on internet-based services. Maintaining cost-effectiveness, adapting to evolving consumer behavior, and exploring niche market segments will be crucial for survival. The transition of legacy businesses to digital platforms also presents an opportunity for consolidation or partnerships, potentially reshaping the competitive landscape. Despite the challenges, the yellow pages market is not entirely obsolete; its future depends on strategic adaptation and a focus on areas where it can still deliver value to a specific customer segment.