Massive Growth of Ad Spending Over Social Networks
Social networking, blogging, Twitter, Facebook — all still inspire negative reactions from some execs inside the traditional media industry, but a report released by Nielsen found that over the past year, the social media world has expanded its footprint substantially among the U.S. Internet population. As of August, according to the Nielsen study released last week, social networks and blogs accounted for 17 percent of all time spent on the Internet, which is close to triple the percentage just one year earlier. Advertisers have taken notice. Here are some of the report’s main findings: “Year-over-year, estimated online advertising spend on the top social network and blogging sites increased 119 percent, from approximately $49 million in August 2008 to approximately $108…
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