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Facebook Ad Revenues Expected To Reach $1.2 Billion This Year

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Facebook has once again caused eMarketer to revise its ad spending projections significantly upward, while rival MySpace (NSDQ: NWS), which is about to embark on a consumer branding campaign and website revamp, continues to trend downward.

The gulf between the two social nets is dramatic. Advertisers will spend $1.28 billion globally this year to reach Facebook