eMarketer reported ad spend in the social networks will reach $2.5 billion by 2011. These social networks are not only generating a buzz online, but offline as well. Marketing agencies are entering the social space with growing consumer interest in the social marketplace.
Branding through social networks such as MySpace is becoming a priority for companies such as Pepsi, and other big ones who are putting a lot of their online marketing budgets into the social area.
eMarketer estimates the ad spend in the social networks around $900 million in 2007 and say its caused by increased revenue projections for Facebook and additional spending on niche and marketer-sponsored social networks..
MySpace still holds the largest share of revenue from social ad spend at around $525 million while Facebook is looking at $125 million in ad revenue but both see growth ahead as popularity and growing advertising interest in this area grows.