U.S. ad spending on Facebook is estimated to total $835 million this year, up 67%. The company also projected Facebook, which has some 500 million users globally, will hit $1.76 billion in overall ad revenue in 2011.
The fastest-growing area for Facebook is coming from its self-serve advertising platform, which direct marketers use to create, buy and target the small ads that appear on the right side of most users’ pages. Facebook estimates those account for half of its ad revenue, with display making up the balance.
“Brand advertisers are making Facebook a core buy,” eMarketer senior analyst Debra Aho Williamson, said in a statement. “Ad spending is building quickly, and the mass audience is one that marketers cannot ignore any longer.”