17 Mar Ad projections cut for social networks
With the economy taking a toll on even social-networking sites, eMarketer reduced its global forecast for advertising in the sector this year to $2.3 billion, according to a report in The Wall Street Journal.
Social networks, on a worldwide basis, are expected to post advertising growth of 17 percent this year, compared with eMarketer’s earlier projections of a 32 percent growth rate, the Journal noted.
The revised forecast follows a cut eMarketer made in December, when it reduced its U.S. projections for social-network advertising spending in 2009 to $1.3 billion.
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