A significant chunk of businesses that advertise on social networks will turn to Facebook in 2011 to get their brands and products on consumers’ radars.
Facebook is expected to attract $4 billion in worldwide advertising revenue, which will account for 68 percent of all advertising spending on social websites, predicts research aggregator eMarketer. More than half of that spending ($2.2 billion) may come from the U.S.
“In social network advertising, all roads lead to Facebook,” wrote eMarketer in its new report on worldwide ad revenue.
In comparison, eMarketer foresees Twitter garnering $150 million in worldwide ad spending, a small piece of the $6 billion researchers predict social networks will collect this year.
“We expect Twitter to attract … $250 million in 2012,” the researchers wrote. “In a twist, ad spending on Twitter is forecast to surpass spending on Myspace in 2012, which is expected to see spending drop to $184 million worldwide this year and $156 million in 2012.”
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Follow BusinessNewsDaily staff writer Brian Anthony Hernandez on Twitter: @BAHjournalist.