Social network ad spending to reach nearly $1.7 billion this year
According to a new report from eMarketer, US advertisers will spend an estimated $1.68 billion advertising on social networking sites this year.
This compares to the $1.4 billion spent in 2009 – meaning a 20.3% increase year-on-year in 2010.
Expenditure on social network advertising is set to increase even more in 2011, with a predicted $2.09 billion to be spent – a 24.2% rise year-on-year.
eMarketer predicts that just over half of social network ad spending will come from the US for this year (51%), but that the proportions will be reversed in 2011, with 49% of the spending coming from the US.
This follows news that ad spending on Facebook will reach over $1.2 billion this year, and that ad spending on social games and apps will reach $220 million.