US Social Media Ad Spending Surges Past $3 billion, Thanks to Facebook

Ad spending on social networks in US will reach $3.08 billion mark by the end of 2011, according to revised estimates by eMarketer. This years estimated spending would be 55% ($1.99 billion) higher than what advertisers spent on social networking sites in 2010. eMarketer further expects that the ad spendings on social networks would rise by another 27.7% to reach $4 billion in 2012.