Newly released projections from eMarketer show that total ad spend on social networking sites is expected to decline approximately 3.0% in 2009. The primary drivers of the projected dip include the failure of Twitter to implement a strong monetization strategy yet and the difficulties in revenues for MySpace.
The good news for social networking is that the downturn is not expected to continue. eMarketer expects 2010 spending to see double-digit growth, followed by continued growth in 2011.
