Marketers to spend $2.35bn on social media ads
Internet Marketing
19 March 2009
A new forecast from eMarketer has predicted that global spending on ads placed on social networking websites will reach $2.35 billion (£1.64 billion) this year, up 17.3 per cent on 2008.
Spending will continue to increase over the next few years to hit the $3.49 billion mark by 2013, the research company said.
Despite the fact that these predictions are significantly lower than the firm's previous estimates for the sector, evidence suggests that there is still room for growth within the social media marketing sector, report author Debra Aho Williamson commented.
She explained that the growing use of social networks generally, as well as the formation of new virtual goods-based revenue streams by social media sites in countries such as China and Russia, will help the market to grow.
"Social network usage is growing substantially in many world regions, in several cases surpassing the usage levels seen in the US," Ms Williamson stated.
IDC released research findings last year indicating that internet users pay less attention to social media ads than those on other sites.
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