Report: Social media revenues fall on MySpace results

05/14/2009 | Mediaweek

After two years of robust increases, social networking sites are expected to see their U.S. ad revenue drop 3% this year to $1.14 billion, largely because of "problems with MySpace," where revenues are predicted to tumble 15% to $630 million, according to a report by eMarketer. In contrast, revenue at rival Facebook is expected to grow by 9.5% this year to $230 million, according to the report.

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