According to a new Nielsen Company research, there has been 17 percent increase in the time spent on social media and blogging websites compared to a year ago. Not only that, during this recession when companies are cutting back their advertising budgets using the traditional media, they are increasing spending on social networking websites.
[ad#left] Other important findings:
– Online Display Ad Spending on Top Social Network Sites More than Doubles in August 2009
– 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.
– Facebook was the No. 1 social networking site advertised on by 10 of the 13 industries when ranked by display ad impressions, while Myspace.com led in the other three industries
To me there is nothing surprising in this research. More and more people are spending time on the social media websites and advertisers are just following consumers. I have a feeling that the recession is the reason the numbers are so high when it comes to social networking websites. People who are unemployed are flocking to social media websites like LinkedIn and Facebook to potentially look for jobs and to let their friends and family know that they are in the market.
It will be interesting to see how Twitter ranks in all of this next year after they have implemented advertising.