Facebook Increasing Share Of Advertising Revenue
Advertising spending on Facebook is soaring while MySpace is tumbling according to eMarketer’s Social Network Ad Spending: 2010 Outlook, so much so, that Facebook will surpass MySpace in advertising revenues in 2010, a year earlier than expected.
Projections show that MySpace will bring in $490 million in worldwide advertising revenue in 2009 but only $385 million in 2010, a decline of 21%. Meanwhile, worldwide spending on Facebook is expected to reach $435 million in 2009 and $605 million in 2010, an increase of 39%, finally putting Facebook ahead of MySpace as the number one social network in terms of ad revenue.
In total, marketers are expected to spend $2.2 billion to advertise on social networks worldwide in 2009, with $1.2 billion in spending in the US. In 2010, Facebook will account for nearly one-quarter of all social network ad spending worldwide, up from 20% in 2009.
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Filed under: Business
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