One of the fastest growing forms of online marketing is due to see some changes next year. While MySpace has commanded the most advertising dollars when it comes to social media, likely the result of its large user base, Facebook is expected to take the top spot in 2010. This may be because Facebook surpassed MySpace on a global basis, in 2009, with respect to the number of total visitors to its site.
Total U.S. ad spending on social networks should come in at about $1.2 billion for 2009, a 3.9% increase over 2008. Of that amount, $465 million was spent on MySpace and $335 million was spent on Facebook.
Analysts expect U.S. ad spending on this media channel to rise to $1.295 billion in 2010. Look for Facebook and MySpace to essentially change places. Facebook should garner $450 million in U.S. ad spending while MySpace will collect about $360 million.
Debra Aho Williamson, eMarketer senior analyst emphasizes the growing importance of the social media channel when she notes that marketer spending adds up to a good deal more than the measured advertising expense. For example, firms allocate spending for “creating and maintaining a fan page, managing promotions or public relations outreach within a social network, and measuring the impact of a social network presence on brand health and sales.”[Source: Social Network Spending Shifts, eMarketer, December 2009]