The research firm projects worldwide social network ad spending will total $2.3 billion this year, representing almost half the growth it had previously projected. Worldwide, social networks are projected to see advertising spending growth of 17% this year. EMarketer had earlier forecast that growth would be 32%.
As for U.S. ad spending on social networks, eMarketer projects growth of about 10% this year to $1.3 billion. It had earlier forecast U.S. social-network expenditures this year would increase by 53%.
EMarketer anticipates that advertising on social networking sites will grow about 10% a year until 2013, to $3.49 billion worldwide.