In a report released on Wednesday, advertising industry research firm eMarketer predicts that Twitter will see its global ad revenue almost double from a projected $583 million this year, to more than $1 billion in 2014.
Twitter is privately held and does not reveal internal financial data. EMarketer’s forecast is based on an analysis of market trends and data from ad agencies. Twitter is thought to have generated $288 million in ad revenue lasy year, the Vancouver Sun notes.
Other analysts have produced similar estimates of Twitter’s ad revenue.
The company is expected to launch an initial public offering some time next year. Twitter has been ramping up the number of advertising tweets sent over the last year.
Analysts say that a Twitter IPO would be closely watched. Last year, social media giant Facebook (NASDAQ:FB) went public in an IPO plagued with technical snags and pricing concerns.