Google’s Brin Bearish on Social Ad Revenue
ADOTAS – Monetizing ads on social networks is hard! On the heels of an eMarketer report that lowered its forecast for interactive advertising on U.S. social networking sites by 12.5% to $1.4 billion to $1.6 billion, Google Inc. co-founder Sergey Brin had a chat with reporters in Jerusalem, noting that that while the situation wasn’t ideal, it was (fingers crossed!) improving.
NB: The forecast for MySpace and Facebook was grim. eMarketer predicts that MySpace will generate about $755 million in ad sales this year, down 11.2% from their previous estimate; Facebook is projected to garner about $265 million, down 12.9% from eMarketer’s previous prediction.
“In general, it’s been improving but we still have a long way to go,” Brin told reporters today. “People are expecting overnight to wake up to a miracle … but these things take time,” Reuters reported Brin as saying.
Reader Comments.
After serving billions of ads at MySpace, I can tell you that advertising on social networks does work, but takes much more creative thinking and effort than many media buyers care for. The social networks need to help get the ball rolling, instruct advertisers to think out-of-the-IAB-box and making a campaign engaging and viral.
I’ve spoken with many national, brand advertisers who like the idea and seem willing, so the future looks bright. The two sides of the equation just need to invest the time and effort to make it work.
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