A recent report from Nielson and reported by ClickZ states: “Time spent on social networking sites nearly tripled in the past year, and ad spending on those sites very nearly kept pace.” Time spent on social networking sites rose by 11% in August 2009 to 17% while advertisers were eager to cash in on this growth by increasing spending by 119%! (estimated $49 million in August 2008 to $108 million last month).
There is a great recap of the report from Frank Reed over at Marketing Pilgrim. Check it out!