According to the latest research from eMarketer, advertisers will spend $1.28 billion worldwide to reach Facebook’s 500 million users compared to $665 million in ad revenue in 2009. US ad spending on Facebook is estimated to be $835 million this year, up from $500 million in 2009.
The picture was not so rosy for ad spending on MySpace. MySpace is expected to bring in just $347 million this year (down from over $400 million in 2009) and the number is forecasted to drop by 14 percent to $297 million in ad revenue for 2011. Facebook worldwide ad spending is expected to reach $1.8 billion in 2011.
The numbers aren’t necessarily surprising. Facebook has grown to be largest social network in the world, and MySpace has been bleeding traffic. There have been a number of reports that Facebook was on track to surpass $1 billion in ad sales this year. And the company recently revealed that advertising revenue has grown 10-fold this year even though rates have remained at the same price-point.
Facebook is the world’s largest social network, with over 845 million monthly active users. Facebook was founded by Mark Zuckerberg in February 2004, initially as an exclusive network for Harvard students. It was a huge hit: in 2 weeks, half of the schools in the Boston area began demanding a Facebook network. Zuckerberg immediately recruited his friends Dustin Moskovitz, Chris Hughes, and Eduardo Saverin to help build Facebook, and within four months, Facebook added 30 more college networks. The original...
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