Facebook is set to make over $1 billion in advertising revenue in 2010, internet research firm eMarketeer has predicted.
The market research firm said that advertisers will be spend $1.3 billion for promoting their brands on the platform.
eMarketeer also predicted that the revenue will rise to $1.7 billion in 2011.
Debra Aho Williamson, an analyst at eMarketeer, said in a statement: “Brand advertisers are making Facebook a core buy. Ad spending is building quickly and the mass audience is one that marketers cannot ignore any longer.”
The report released by the company indicates that a major chunk of this year's advertising revenue will come from US advertisers, who are predicted to spend around $835 million.
Advertisers outside US are suggested to most likely spend around $450 million
Last year, Facebook received $665 million in advertising revenue.
News Corp-owned social network MySpace is expected to earn $347 million from advertising revenues in 2010, a 14 per cent fall from 2009.