According to research released by eMarketer, "U.S. advertisers will spend an estimated $1.7 billion in ads on social networks in 2010, accounting for 6.7 percent of all online ad spending." Spending has grown by 20% this year and is expected to grow by 24% next year.
Facebook accounts for more than half of this spending, which is quite amazing and it shows just how big Facebook really is with social networking.
Do you think that Twitter's upcoming suite of advertising products will make a dent in the ad spending? Where else do you see spending taking place in the near future?
To read more, go to Social network ad spending to hit $1.7 billion in 2010.
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