Marketers Will Spend $150 Million On Twitter In 2011

So says a new report from eMarketer.

eMarketer expects Twitter to earn $150 million in revenues this year, the vast majority of which will come from the US. This represents a substantial increase over revenues of $45 million during 2010, the first year Twitter sold advertising.

By 2012, eMarketer forecasts, Twitter revenues will reach $250 million. But the company must show it can live up to its hype.

“If Twitter can grow its user base and convince marketers of its value as a go-to secondary player to Facebook, it will succeed in gaining revenue,” said Debra Aho Williamson, eMarketer principal analyst. “In 2011 it must work overtime to give its early advertisers a positive experience.”

Twitter’s monetization efforts will go into full gear this year, with the current Promoted Products suite and the pending launch of a self-serve platform akin to Facebook’s highly successful ad targeting system.

Twitter revenues will still be small compared to those of Facebook, but by next year eMarketer expects Twitter to pull in more ad dollars than Myspace.

Looks good, but despite what appears to be impressive growth, certainly percentage-wise, Twitter’s numbers seem a little shy to me. As of right now, Twitter’s overall network size is about one-quarter of that of Facebook (about 600m) – will the latter really be making 20x what Twitter makes in 2012, even with their three-year head start? And if so, isn’t that a pretty big fail on Twitter’s part? And what are these ‘other social networks’ that are on target to reach $1.5 billion?

As usual, take it all with a hefty pinch.