Research firm eMarketer now says ad spending on social networks will grow 10.2% to reach $1.3 billion in 2009. In a previous estimate, eMarketer’s Excel spreadsheet spit out $1.8 billion.
The numbers are largely arbitrary, but they do reflect the reality of lowered expectations for News Corp’s (NWS) MySpace and Facebook. From eMarketer’s post:
In its previous prediction, eMarketer said MySpace would bring in $755 million in US ad spending in 2008, but that estimate has now dropped 22.5% to $585 million.
At Facebook, US advertisers will spend an estimated $210 million in 2008, which is 20.8% lower than the earlier forecast of $265 million.
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