Social Network ad spending grows rapidly to $900M

Latest numbers tracked by eMarketer.com are showing that Marketing 2.0 is ramping up more rapidly than expected. This new 2007 Ad spending forecast, totaling $865M specifically in Social Networking ad, is far bigger than the last $280M estimate for 2006, still coming from eMarketer. This is pretty much in line with the 2010 forecasted $1.8 Billion.

This is to be compared with the overall $16.7 Billion spent on US online advertising for 2006 i.e. 1.7%, which is a relatively small chunk but growing fast.

“The underlying concept will influence the way advertising is done in all media, not just online.” says Debra Aho Williamson, senior analyst and author of eMarketer’s new report, Social Network Marketing: Carving Out Some MySpace.

Social Networking is definitely an important dimension in Marketing 2.0 and the way it impacts relationships between consumers or customers and brands.