Social Media Spending Booming
PQ Media will release a research report April 11, detailing the exponential growth of marketing through blogs, RSS feeds and podcasting. Excerpts from the study include:
- social media spending forecasted to grow at a compound annual rate of 106.1% from 2005-2010, reaching $757 million in 2010.
- spending on blog, podcast and RSS advertising up 198.4% to $24 million in 2005 and expected to grow 144.9% to $49.8 million in 2006.
- blog advertising accounted for 81.4% of 2005 spending on blog, RSS and podcast advertising.
- podcast advertising is projected to grow at a compound annual rate of 154.4% to $327 million in 2010.
Although these numbers are solely projections, a recent Washington Post article provides some data that correlate with this study. According to the Post, traffic to Blogger.com grew 528% from Feb. 2005 to Feb.2006. Marketers seem to be targeting this trend.
Conversely, a Forrester Research consumer poll found that 25% of online consumers showed interest in podcasts, but only 1% said they regularly listened to them - based on a survey of 5,000 internet users. Forrester still predicts that 12 million households will regularly listen to podcasts by 2010, as accessibility and ease of use increases.
Check out the upcoming issue of Website Services Magazine for a feature article on podcasting.