Social Media Growth Suggests a Wholesale Change in the Way the Internet is Used

 

According to a new report from The Nielsen Company, Americans have nearly tripled the amount of time they spend at social networking and blog sites from a year ago. In August 2009, 17 percent of all time spent on the Internet was at social networking sites, up from 6 percent in August 2008.

This growth suggests a wholesale change in the way the Internet is used,” said Jon Gibs, vice president, media and agency insights, Nielsen’s online division. “While video and text content remain central to the Web experience – the desire of online consumers to connect, communicate and share is increasingly driving the medium’s growth.”

Advertisers are starting to take note of Social Media’s growth:

  • Estimated online advertising spending on the top social network and blogging sites increased 119 percent.
  • Share of estimated spend on social media sites has doubled.
  • While several industries decreased their overall online ad spend year-over-year in August, spending on the top social network sites increased across the board.
  • The Entertainment Industry led in growing its online ad dollars, increasing ad spending on the top social network sites by 812 percent in August.
  • Travel advertisers increased their ad spend on these sites by 364 percent.
  • The growth of social networking sites has been fueled in part by the explosive growth of Facebook, and it is to this site that many industries head when planning their online ad dollars.

“In the past, advertisers had significant concerns with social media advertising,” said Gibs. “The considerable increases we’ve seen in ad spending over the past year suggest that many of these concerns have subsided or been addressed.”

Read the full press release.

Social Media is also impacting ad agency new business …

 

About Michael Gass

Consultant | Trainer | Author | Speaker

Since 2007, he has been pioneering the use of social media, inbound and content marketing strategies specifically for agency new business.

He is the founder of Fuel Lines Business Development, LLC, a firm which provides business development training and consulting services to advertising, digital, media and PR agencies.

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