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Facebook to Eclipse MySpace in Social Network

Facebook to Eclipse MySpace in Social Network

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Published by: api-22272015 on Jan 29, 2010
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05/11/2014

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Facebook To Eclipse MySpace in Social Network Ad Spending
byMark Walsh, 2 hours ago
 
Marketers will spend $1.2 billion in paid advertising on socialnetworks in the U.S. this year -- a 3.9% increase driven mainly byFacebook's rapid growth, according to a new eMarketer forecast.Worldwide, paid social network advertising is expected toincrease 12% to $2.2 billion this year, and to $2.5 billion in 2010.The Web research firm slightly adjusted its prior projection of a3% drop in U.S. social ad spending in 2009, and predicts a 7.1%increase to $1.3 billion next year. Facebook will account for aquarter of all U.S. ad dollars in the category by 2010, gainingmarket share at the expense of MySpace.While eMarketer expects Facebook's U.S. ad revenue to increasefrom $335 million in 2009 to $450 next year, MySpace willcontract from $465 million to $360 million. That translates into a34.7% share of spending for Facebook, compared to 28.7% forMySpace.The shift reflects the emergence of Facebook this year as thepremiere social networking property for marketers. "Every agencyand marketer I talk to over the past couple of months has saidthat Facebook is the place they have to be," said eMarketeranalyst Debra Aho Williamson.That sentiment stems in large part from the site's surgingaudience growth. Facebook boasts 350 million users worldwide,and in November cracked 100 million monthly U.S. visitors for thefirst time to become the fourth-largest Web property overall,according to comScore. MySpace's U.S. audience, by contrast, hadfallen to 64 million as of October.The site has also broadened its demographic reach, while MySpaceis narrowing its scope to focus on areas like entertainment,movies and music. "Its appeal to marketers is going to narrow aswell," said Williamson.But the report also emphasizes that most of the spending onFacebook and other social networks will go toward earned media-viral promotional efforts that do not involve spending ontraditional paid ad formats."eMarketer believes that when companies budget for social media
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