The Ultimate Use of Social Media
Social media has been bringing people together in one arena for many years. It may have been previously through workplace forums or hobby forums, yet regardless of where it is hosted, it is when a group of people congregate together. The very definition of this media is quite broad. It refers to any place where there are blogs, pictures, technology or people gathered together on one specialized medium. This medium is now the internet and it is where people are coming together to share stories and find friends.
Business experts are perked up at the social media found on the internet. Places such as Facebook, Youtube and MySpace have a tremendous audience with younger generations, yet this type of media is not brand new. It has been around now for quite some time and it keeps increasing in numbers as more people join. This translates into money for the business experts who have a share of the financial pie.
So is there money to be made through the Facebook or MySpace websites? Yes, and it is through project advertising that this is able to happen. Have you ever noticed when you go through the Facebook login that you see advertisements located around the sides of your profile? Each time someone goes through this link and makes a purchase or simply visits the website, a portion of the money is given to Facebook. That is why the site is free to everyone. The investors make their money through advertising services.
However, one of the problems that Facebook is facing is that it is being eclipsed by super giant MySpace. With thirty-six million members versus MySpace’s seventy-six million members, money is becoming an issue. At one time Facebook was a definite money making enterprise but business analysts forecasted that the cost of running the website would eventually eclipse the revenue coming in. This could be a definite problem and it may result in the site becoming extinct or being forced to charge for membership.
What happens if Facebook begins charging a fee though? Well, why would you pay for a profile on Facebook when you could go to its competitor MySpace for free? The only other alternative may be for Facebook to be acquired by a larger media group, such as Google or Yahoo. This would allow Facebook to remain a free social networking site.
Though most of the social media sites, such as Facebook and MySpace, are free, Facebook has had its fair share of loses. It is in the shadow of super site MySpace and unless it finds a way to attract more members, then it may eventually fade away as it loses financial ground. That is not happening yet and surely if that were to arise owner Mark Zuckerberg may eventually concede to sell or merge Facebook with another huge corporate giant to keep the website running. But until then it is free to use and enjoy.
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