eMarketer released its predictive research focusing on social network advertising spending, and came up with some very impressive numbers for Facebook as well as some very unimpressive numbers for MySpace.
Last year, the calendar year 2009, advertising spending on Facebook totaled about $665 million altogether. This year, eMarketer predicts Facebook will net $835 million in the U.S. alone, with a whopping $1.29 billion worldwide. Says an eMarketer analyst:
Brand advertisers are making Facebook a core buy. Ad spending is building quickly and the mass audience is one that marketers cannot ignore any longer.
Predictions for 2011 are a bit premature, but eMarketer thinks the curve will get even steeper, with a worldwide take of $1.76 billion. MySpace, in comparison, is down 14% to an estimated $297 million in ad revenue--far less than Facebook's take, not that that should surprise anyone. This is a major success for Facebook, showing the world that social media can attract a world-class quality and quantity of advertising despite earlier jitters.