It has been very apparent to everyone that there has been explosive growth in social networking sites such as FaceBook and MySpace. In fact, studies have shown a 350%+ growth in MySpace alone in the past year.
Some people are afraid of the potential negative impact these sites may have on our children whereas social scientists and others see it as a beneficial aspect of today’s society. Also applauding the rise of social networking are online marketers who have struck a proverbial goldmine for selling their wares.
There are endless possibilities for those who wish to cash in on the various social networking sites. You can make as many business contacts, meet new friends, keep in touch with the old ones and earn money on the side. Not bad for something that is both enjoyable and which can be done on your own time.
MySpace has dominated the other social networking sites in the USA and UK. While FaceBook seemed to get off to a slower more deliberate start. Facebook is becoming a major contender as it has a more together feel to it. Is it possible that another site could come along and compete with these two behemoths?
Google’s $900 million investment in MySpace just last year just for the setting up of Google advertising and search facility on the site speaks well of the economic potentials of MySpace.
MySpace boasts of achieving the 100 millionth account mark in August last year. It has over 300 million registered accounts as of December 18, 2007 and continues to attract 230,000 new account registrants on a daily basis. The efficacy of MySpace as a social networking site is evident with the existing profiles of some candidates for the 2008 US Presidential elections on MySpace.
While there is still a lot of room for growth and profits on MySpace, it is ideal to always look for new opportunities in social networking. There are a lot of wannabees that have started out small like Giblink but just like MySpace, it has a lot of potential for growth.
It seems like the owners of these sites are commanding huge amounts of money and deservedly so, as they are the owners of each of their sites. Some of the newer players on the market, such as GibLink, are actually revenue sharing with their users. If MySpace did that each one of their 300 million accounts should have gotten a check from Google for about $330. This seems like fantasy, but GibLink is sharing its revenue with its users.
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