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Thursday, 20th January 2011, 13:39:00
Myspace advertising revenues set to drop as firms look elsewhere
Businesses looking to use online advertising to market their website are turning away from social networking hub Myspace, according to new figures.
eMarketer found that advertising revenues at Myspace dropped to $288 million (£180.21 million) last year from $470 million in 2009.
Furthermore, the company expects this figure to fall once again to $184 million in 2011 and $156 million next year.
The figures are in contrast to the views of Justin Cooke, chair of the British Interactive Media Association, who said earlier this month that ecommerce through social networking will "come of age" in 2011 as more firms advertise.
However, eMarketer's principal analyst Debra Aho Williamson said that Myspace will see its advertising levels drop in the next two years.
"The bottom has fallen out for Myspace, the company that Rupert Murdoch only a few short years ago thought of as the crown jewel of News Corp's online future," she said.
Posted by Kevin Jenson 
Categories: | Online Marketing / Search |
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