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?
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