The report also stated that online revenues will account for nearly 30 percent of global yellow pages revenues by 2011, more than twice the 12.4 percent in 2006.

Based on the study, yellow page ads make up 7.1 percent of all global advertising revenues.

The Kelsey Group's Charles Laughlin said small businesses are more interested in using the Internet to attract customers, but buying digital media is complex to them. “For this reason, the yellow pages sales force has emerged as an enviable asset among local media players vying for small business ad dollars," he said.