ADOTAS – I hope this idea isn’t too wild or anything, but this social media thing might actually be taking off with advertisers. According to PQ Media, which labels itself an “alternative media econometrics,” while traditional media marketing took a double-digit tumble, social media sponsorships jumped by about 14% to $46 million.
According to “Social Media Sponsorships Forecast 2010-2014,” paid and non-paid social media sponsorships grew at a compound annual rate of 77.6% from 2004 to 2009. This made for 2.7% of total word-of-mouth marketing spend in 2009 versus 0.5% in 2004. Cash-sponsored social media, in particular, is the fastest-growing segment in social media sponsorship with spend up 37.3% in 2009 to $10.3 million. Not that non-paid sponsored media wasn’t impressive: spend rose 8.5% in 2009 to $35.7 million.
The good times are set to keep on rolling: PQ predicts that social media sponsorships will increase by 23.6% to $56.8 million in 2010.