EMarketer Tuesday reduced its expectations for U.S. online social networking ad spending this year. Advertisers will likely spend $1.4 billion, down from $1.6 billion earlier projected.
The marketing firm also cut its prediction for 2011, now saying U.S. online social networking ad spending will reach 2.4 billion, a drop from $2.7 billion previously expected.
“Today’s economy, combined with the fact that social networks are still trying to come up with successful ad models, has led to lowered ad spending projections for the next few years,” according to eMarketer senior analyst Debra Aho Williamson.
Whether this advertising slowdown will spill-over into blogs or be contained within the sphere of MySpace and Facebook remains to be seen.
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