Social Networking Advertising To Reach $4.6 Billion In 2011

Advertising on social networks like the popular Facebook and Myspace, among others have become an increasingly important part of advertising. With an estimated 500 million users worldwide, it’s nearly impossible to know someone who doesn’t use the site.

Thanks to those 500 million users, Facebook.com’s advertising revenue will likely hit $1.68 billion by the end of 2010. That’s a 20 percent jump from last years total. Next year, the analysts project it will hit the $2 billion mark. According to eMarketer, Facebook alone will make up half of ad spending on social networks.

Spending on social network advertising is only expected to go up. Analysts predict that next year, social networks will bring in $4.26 billion in revenue, compared to a $3.3 billion estimate for 2010.