This is from eMarketer – analyst Debra Williamson.
She says ad spending on social networks in 2006 will be $280m in the US and $70m in other markets. This is mostly on profile pages and sponsored promotions. Social network ad spend will be 1.7% of total online ad spend in the US this year.
This is actually a great report which I will comment on in more detail later, but here are a couple of interesting things as a taster:
- A quote from Rupert Murdoch – “God knows what we are going to do with Myspace”
- A definition (not many of those about these days….)
“eMarketer defines an online social network as a site whose main purpose is to enable people to connect with others by creating personal profiles, describing their interests and otherwise sharing content.”
- Fox Interactive Media President Ross Levinsohn in Wired “You’ll see us morph from a content company into a marketing company” – will they have much choice as the price of content is heading towards zero??