Social Networking Ad Spending Set to Boom

Now advertisers are also eyeing the booming social networking websites.

According to a new eMarketer report U.S. advertisers will spend $280 million on social networking sites this year (mostly to create profile pages and sponsored promotions), or 1.7 percent of total U.S. online advertising spend. (Advertisers in international markets are expected to spen $70 million.) And by 2010, social networking sites are projected to take in $1.86 billion, or 6.3 percent of all U.S. online advertising. MySpace is estimated to garner $180 million in U.S. ad revenue this year.

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Praneeth is the author of the “Digital Media News Portal” with special focus on India.