Ad Spend on Social Networking Sites to Surpass $2.8 billion by 2010

Worldwide, social-network ad spending will reach $2.8 billion in 2010, up from $445 million in 2006, while ad spending on U.S. social-networking sites in 2007 is expected to reach $865 million, up from $350 million in 2006, and will reach $2.15 billion in 2010, according to eMarketer  (via MarketingVOX).
MySpace is expected to dominate with 60% of total U.S. online social-network ad spend in 2007. Other general social networking sites (Facebook, Bebo, Piczo, Friendster etc.) are expected to have little over 20% market share, while social networking offerings from portal sites (MSN Spaces, Yahoo! 360, AIM pages, Orkut etc.) are expected to garner about 10% share.

Internet advertising revenues in U.S. for the first six months of 2006 were approximately $7.9 billion, a new record and a 37% increase over the first half of 2005, according to Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC). 

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