Social Networking Goes Big Business

PreacherTom writes, "It is no secret that sites like Facebook and MySpace are big hits among students. Big business is catching on to their possibilities too. Even in the wake of online stalking scandals, companies such as JP Morgan Chase, Apple, and Burger King are building whole marketing campaigns around social networking sites, to the tune of an estimated $280 million in 2006. It appears to be working: take the King, for example, who has amassed more than 120,000 'friends' that opt (for rewards) to associate themselves with his profile." These marketing drives are aimed at younger consumers, but (from the article): "About 36% of MySpace users are people aged 35-54, as are 30% of Facebook users."

A preponderance of knowledge

[Shanoyu]

I have to wonder whether or not social networking sites will continue to be hot two or three years down the line. I guess i'm being a bit old-fogeyish since after all we're talking about the 18-24 demographic. It's kind of old hat for me; for someone who is 18 years old I guess it's sort of new though. Either way, after about 2 or 3 years of that I found that the more I used them the less I liked using them, simply because as a particular networking tool becomes more prevalent among your friends (and those unfortunate acquaintances) you find yourself willing to disclose less information about yourself or commit to as many activities via the site.

Too Much!

[PineHall]

Is it me, or has the amount of advertising reached an all time high? Everywhere I look I see "Buy! BUY! Buy!" No wonder the national saving rate is currently negative. We are digging ourselves way into debt. I think this is not good in the long term. I wonder how long can this last and if there will be a backlash.

Advertising on social networking sites looks like a good idea, but I wonder when people will say no more and avoid these advertisement websites. I think people will eventually look for web communities where advertising is a minimum. And many people will pay for advertising-free websites.