I have just seen some very interesting data on social networks. The highlights are below. Unfortunately I can’t name the source, but it is a reliable one.
- As a category social networks continue to grow rapidly – with global billions of minutes spent on these sites up 33% to 126bn in the seven months to April 08. That is 10% of all online minutes. This is Comscore data.
- Personal email services have been the big casualty with monthly usage falling by a third amongst the 15-24 age group. Socnets are faster, apparently.
- The US and UK are heavily consolidated already – Facebook and Myspace have 94% market share in the US (39% FB, 55% Myspace) and Facebook, Bebo and Myspace have 89% share in the UK (42%, 34%, 12% respectively). In the UK Facebook is gaining share rapidly at the expense of Bebo and Myspace
- Monetisation is weak with the share of the online ad market falling well short of the share of attention. Within socnets Facebook stands out as poor in this regard with it’s share of socnet advertising well short of its share of socnet pageviews.