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Social media revenue to hit $10.3bn

11 October 2011, 16:24

Johannesburg - Global social media revenue is set to reach $10.3bn in 2011, up 41.4% from 2010 revenue of $7.3bn, according to new data out on Tuesday by IT research and advisory company Gartner.

Worldwide social media revenue was forecast for consistent growth with 2012 revenue expected at $14.9bn, and the market was projected to reach $29.1bn in 2015, it said.

Advertising revenue was, and would remain, the largest contributor to overall social media revenue. Social media advertising revenue was forecast to total $5.5bn in 2011, and grow to $8.2bn in 2012.

Advertising revenue included display advertising and digital video commercials on any device including PCs, mobile and media tablets, Gartner explained.

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