CNET News reports that the economy is taking its toll on social-networking sites. eMarketer reduced its global forecast for advertising in the sector this year to $2.3 billion, according to a report in The Wall Street Journal.
Social networks, on a worldwide basis, are expected to post advertising growth of 17 percent this year, compared with eMarketer’s earlier projections of a 32 percent growth rate, the Journal noted.
The revised forecast follows a cut eMarketer made in December, when it reduced its U.S. projections for social-network advertising spending in 2009 to $1.3 billion.
That 2009 revision translated into a U.S. growth rate of 10.2 percent for social networks, compared with its earlier forecast of a 53 percent growth rate.
In some regards, the revised global forecast comes as no surprise, given that the United States accounts for a little more than half of the total advertising spending on social networks worldwide.
We ask the question, is social advertising even the way of the future? When we use social networking sites, we are socializing – not looking at ads.
Your thoughts?
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