Advertisers to Spend $1.7 Billion on Social Networks in 2010

The latest numbers from eMarketer project that advertisers will spend nearly $1.7 billion in the U.S. on social networking sites in 2010. Worldwide, spending will hit $3.3 billion according to the report.

The numbers represent a significant bump up from estimates published by the research firm at the end of last year, when they projected $1.3 billion would be spent on the space in the U.S.

Not surprisingly, eMarketer sees about half of that money (in the U.S.) going to Facebook, with MySpace continuing to see a smaller share of the pie. Separately, the firm estimated that Facebook’s 2010 revenue would hit $1.2 billion in a report published last week.

Earlier this month, Facebook COO Sheryl Sandberg said that some of the social network’s biggest advertisers had boosted ad spend by 10x this year; a trend that’s apparent in the eMarketer report.

[img credit: donbuciak]

via Advertisers to Spend $1.7 Billion on Social Networks in 2010.

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Posted on August 16, 2010, in Influences. Bookmark the permalink. Leave a comment.

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