Forecast: Social network ad spending in decline

Research firm eMarketer is revising downward its projections for spending this year on social network advertising. In December, eMarketer forecast 10.2% growth in the category to $1.3 billion. The revised report predicts the 2009 total will hit $1.1 billion, in large part because of a 15% reduction in spending on social network MySpace. Facebook is projected as being on pace to surpass MySpace in terms of ad spending in 2011.

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