Ads to fuel social media growth: study


NEW YORK: Global social media revenues are due to reach $16.9bn this year, with advertising and gaming retaining their role as the channel’s main sources of income, according to a study. Gartner, the insights provider, predicted in a report that platforms in this burgeoning sector would collectively enjoy growth of 43.1% on an annual basis in 2012, having generated $11.8bn in 2011. This marks an improvement on theorganisation’s previous forecast, published last October, when it indicated that figures for the year should come in at $10.3bn and then grow to $14.9bn this year.

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