How will the social networking industry make money? The hot question?

I worked with Jonathan Abrams at Friendster in 2003. He had hoped to release a paid program based on allowing people to contact their second, third and fourth degree of separation contacts.

MySpace has a younger audience and is selling music now. They are also selling advertising to good effect. They opened up advertising opportunities to the online personals industy at the beginning of the year.

Eventually I think Friendster will launch a paid program when they have more add-on services to add value. Right now they're pentrating the market and staying ahead of the copycats.

MySpace has outdone Friendster in many ways but is holding steady at 500 or so on Alexa. Friendster is at 200 or so. What next?

Mark Brooks
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Mark Brooks
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I tend to see that Business Social Networking will be the biggest money maker in the entire industry. It will probably be more of a revenue producer than Online Dating.....Yes. I Said it

My rationale is that Business will pay for Annual Licenses to use such a system rather than monthly fees. That type of arrangement would produce guaranteed revenue over the long term, where the dating industry has to contend with 3-4 month aver user lifetimes ($60-80).

Just my 2 cents

Marc Lesnick

It seems to me that the systems that work best on the internet follow more closely what happens in real time every day life. The problem with the Social Networking models we are seeing, may be the lack of accountability. For dating systems, people have little to lose except the time to meet the potential mate, and the price of a cup of coffee. For business purposes, there would have to be a way to tabulate people. For example with more and more professionals self employed and available on a contract basis, a Networking system that tallied accountability and distinct reliable referrals would be something that could be monotized more easily than just a e-commerce version of the Consumer Report.

Kathy Rempel
VP the TelechaT Network

He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you.
-Friedrich Nietzsche


Richard

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I think the point about it being more like real life is a great one. I think the online dating industry will grow like the personal training industry. Online dating websites will become "gyms" where people do more than "look for love", they buy their love books, love profiles, love advice, how to dress, how to etc etc from one website. And of course, the sites will look more like clubs, bars or country clubs - social environments with a who's who and special announcements about someone getting engaged, etc. People need social interaction more than ever, and the online dating community is thriving to give it to them.

So the question is, how do they make money? My first thought is bake sales. So that's probably not the best answer. The industry will probably continue to break out into your more results oriented / profitable ventures, and separately, more community driven non-profit type of ventures. The profit driven ventures need to have "handles" on the results they are promising. That's where the money will show up.

I plan to be the "personal trainer" at the gym. I'm a love coach. If you want to work with me on a great new project, give me a shout. I posted on another topic "Dating Seminars" with the details for the project.

Mark
www.lovekungfu.com