Facebook ad revenue projections revised down to $265 million
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Due to a souring economy and a shift in spending from Facebook itself to third-party developers who place widgets on the social network's site, market research firm eMarketer lowered its projections for Facebook's 2008 ad revenue from $305 million to $265 million. eMarketer expects ad spending on widgets and applications — which goes to their makers, not Facebook — to reach $40 million this year.