Social Net Ad Spend Forecast Slashed, But Still Growing

Social networks will draw a fifth less money than expected from UK advertising in 2009, a new eMarketer forecast says. The research aggregator has lopped 20 percent of its earlier estimate that advertisers would spend £175 million on the sites. Still, that’s up on the £115 million it reckoned advertisers would spend there in 2008.

Why the revision? Obviously, the economy is a factor, but eMarketer said “it also reflects the fact that MySpace, the world