A leading market research and Internet trend analysis firm has estimated that social media advertising spending could jump 13.2 percent in 2010, after suffering a minor slowdown this year.
eMarketer predicted that advertising on sites like Facebook and MySpace could reach $1.3 billion in 2010.
“The expected rebound in spending will come as more companies focus on creating and implementing an overall social marketing strategy. And it is a clear indication that the experimental phase of social network marketing is finally drawing to an end,” said Debra Aho Williamson, eMarketer senior analyst and the author of the new report about social media advertising.
In 2009, advertising spending at MySpace, Facebook, and other social media outlets actually has slowed to what eMarketer believes will be about $1.14 billion total. Ad dollars had been flowing toward social media at a much faster pace in 2008, before the often lamented recession forced some marketers to cut budgets or resort to less experimental advertising vehicles.