The Future of Social Networking Sites: A Report
Date: 12-20-2007
By 2011, 50% of all online adults and 84% of online teens in the U.S. will use social networking each month, according to a study by eMarketer. The report, called "Social Network Marketing: Ad Spending and Usage," forecasts that online social network ad spending will grow from $1.2 billion in 2007 to $2.2 billion in 2008 and $4.1 billion in 2011 globally. U.S. consumers spent $920 million on social networking sites this year and will spend a projected $1.6 billion in 2008. MySpace and Facebook dominate the U.S. social network advertising market, claiming 70% of ad revenues.
