News: Global Social Media Advertising Spend to hit $3.3 Billion

With the economy ‘kind of’ ok and Social Media getting widespread attention, businesses are ready to spend large.

A study conducted by eMarketer.com has revealed that renewed confidence in online advertising is set to create a surge in Social Media advertising spend.

The US still spends (and will spend) around half of the global spend towards advertising on Social Networks, and with the rest of the world’s spending, a predicted total of $3.3 billion will be spent by the end of 2010.

While MySpace will continue to diminish in importance, Facebook will receive half of total spending, while Twitter will experience “substantial growth”.