EMarketer projects that U.S. marketers will spend $1.3 billion to advertise on online social networks in 2009, up 10% from $1.2 billion in 2008. While the growth rate of social network spending will slightly outpace the expected 8.9% growth in total U.S. online ad spending in 2009, this is not as optimistic a sign as it appears. Ad spending on social networks is slowing dramatically, from 126% growth in 2007 to 34% in 2008 to 10% in 2009. In 2013, U.S. marketers will spend an estimated $1.6 billion on social network advertising. To put that figure in perspective, a year ago eMarketer forecast that marketers would spend that $1.6 billion by 2008.
To find out more about digital marketing and eMarketer's report "Social Network Marketing: Slow Growth Ahead for Ad Spending" click here.