1.4 Billion Dollars were spent on Social Network Ad’s last year, and even though we are still very aware of the gradual economic recovery, the average spend is increasing. This is due to the overwhelming demand of companies wanting to reach their key demographic through Social Media, as well as the traditional methods.

Emarketer had this to say on the subject: “eMarketer estimates US advertisers will spend $1.68 billion on social networking sites this year, a more than 20% increase over 2009. Spending will rise even further by 2011 to more than $2 billion.”

Although Facebook is the dominant force, who will be receiving at least Half of all Social Network Ad Spending, there is competition from the ever popular Twitter and the dwindling Myspace, as well as other Social Networking websites. Although these estimates are based on US figures and research, Social Network Advertising is expected to grow even more quickly throughout the rest of the world in 2010.

So in conclusion, if you are currently looking at advertising within the Social Network side of things, I hope this blog will give you the means to make the appropriate decision.

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“News Corp. is in discussions with Google Inc., Microsoft Corp. and Yahoo Inc. about replacing MySpace’s crucial search-advertising partnership with Google, which expires next month, according to people familiar with the matter.

Under the existing deal, Google agreed to make up to $900 million in guaranteed payments for the right to sell small ads as users surf and tap out searches on News Corp.’s My Space.com and on a handful of smaller News Corp. websites.”

It will be difficult for MySpace to find a new deal worth any more than Google’s offer with their decreasing number of users. We’ll let you know if we hear anything!

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“The growth in tweets has put Twitter ahead of MySpace which is estimated to be hitting about 33 million status messages per day. In January 51.6 million unique users visited MySpace in the US, according to Nielsen, compared to 21.79 million unique users that visited Twitter. The data suggests that while Twitter has an overall lower number of users they are more communicative.

The leap to 50 million tweets per day, or 600 tweets per second, which does not include spam, shows the huge growth the service has notched up in the space of three years.

In 2007 Twitter users were racking up just 5,000 tweets a day. By 2008 that figure had grown to 300,000 and to 2.5 million per day in 2009. Last year proved to be the microblogging service’s breakthrough year growing to 35 million representing an annual growth rate of 1,400%.

However, Twitter is still a long way behind social networking leaders YouTube and Facebook. YouTube is estimated to be serving as many as 1 billion videos per day…”

Related Links: Brand Republic Article

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The cuts, making up about a third of its staff, had been rumoured for a number of weeks and affect all divisions of the company.

MySpace CEO Owen Van Natta said the layoffs will help it “operate as a nimble and entrepreneurial company with the adaptive mentality of a start-up”…Read the rest at Brand Republic

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News Corporation today announced the appointment of Owen Van Natta to the role of MySpace Chief Executive Officer effective immediately. Mr. Van Natta will be based in Los Angeles and report directly to Jonathan Miller, News Corporation’s CEO of Digital Media and Chief Digital Officer…read the full press release 

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 ”MySpace’s self service display ad product, called MyAds, officially launched on October 12, less than a month ago. Advertisers can bypass the normal sales routine, use a Flash tool to create their own display ads, and run them on a cost-per-click basis. The minimum CPC rate is $0.25.

Demand for the product was immediate and significant, we’ve heard from multiple sources close to the company. Average daily revenue, say our sources, is $140,000 – $180,000, which means MyAds is at least a $50 million/year business for MySpace already….”

Read the rest here.

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