Flowtown Reports: Social network ad spending is once again on the rise, argues a recent study which predicts that US advertisers will spend nearly 1.7 Billion on social sites this year. This estimate is a noticeable increase from initial 2010 projection made by eMarketer, which forecasted 1.3 billino for this year as well as a 20% increase from 2000 spending. Of this spending, Facebook is expected to receive about half of all social network ad spending, at least in the US, with Myspace losing ground to the now preeminent social networking site. These points, as well as the study’s other most interesting facts and figures are featured in the Graphic above.
Some of the data:
- Half of the world’s social networking advertisement spending are directed toward facebook, which in July hit 500 Million users.
- By 2011 US and worldwide advertising on Myspace is estimated to decline about 38% from $445 Million in 2009
- At 1.68 billion the US spends nearly half of al the world’s social networking advertisements money, while worldwide spending as a whole has reached 3.3 billion in 2010
- How many social media users turn to social media when making purchasing decisions for travel or travel services?
- 4% regularly turn to social media
- 24% sometimes turn to social media
Sources: eMarketer, TechChrunch, Los Angeles Times, Knowledge Networks