Social Media is Now a $17 Billion Business

Posted by Techvibes NewsDesk

Global revenue from social media could hit up to $17 billion this year, according to new research from Gartner.

That would mark a growth rate of more than 43% over last year.

Advertising will represent over half of that revenue, contributing nearly $9 billion in 2012, the report reveals.

Meanwhile, social gaming revenue will account for about 37%, or $6.2 billion. Subscriptions will make up roughly 5% with $300 million.

EMarketer offers similar numbers, predicting close to $8 billion in social media ad revenues in 2012 and $12 billon by 2014. The Interactive Advertising Bureau estimates that global ad revenues for internet advertising were $31 billion in 2011, which would suggest that social media ads account for 25% to 30% of all internet advertising revenue.

Social media remains a relatively new but rapidly spreading phenomenon, with social networks like Facebook not taking off until around 2007 and Twitter until around 2009. Now 100,000 tweets are sent every single minute and and 12,000 bits of content are shared on Facebook per second.

blog comments powered by Disqus

Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



Who's Hiring



Recent Comments

Powered by Disqus