We’re all aware of the recent explosion in online social networking. In fact, you probably have an account on at least one social networking site or perhaps even run your own blog. Well, you’re not alone. Words like Facebook, Myspace, and Twitter are becoming part of our daily vocabulary. So where are most people spending their time and what exactly are they doing on these sites? 
According to web traffic reports, the number of minutes that people spend on social networking sites in the United States has increased more than 80 percent in just one year. Facebook currently enjoys the top spot, with users spending a total of 13.9 billion minutes on the site in April alone. Compared to the amount of time spent on Facebook last April, this number has multiplied a whopping 700 percent! The 200 million active Facebook members now comprise a list of world leaders, including as Pope Benedict himself.
Of course, Facebook isn’t the only site that’s experiencing rapid growth. The minutes spent on Twitter skyrocketed 3,712 percent to almost 300 million, versus approximately 7.8 million from the same month last year. Myspace still holds the number two spot, but the number of minutes spent on this site fell 31 percent in the past year, logging only 4.9 billion minutes instead of 7 billion. The features keeping Myspace on the map right now seem to be its music and video streams.
Social networking sites such as these, however, are not the only platforms increasing at an incredibly rapid rate. Blogging sites have expanded at three times the speed of global Internet growth. The amount of time spent on these online networks has repercussions for how people interact, share, and behave within their regular daily lives.
And we’re not just talking about kids and teens here. These sites consist of an extremely varied and diverse group of people. In fact, the greatest increase among Facebook users has come from the 35- to 49-year-old crowd. This shouldn’t be surprising though, since members from this age-group have many more people to network and communicate with.
Social media “buzz” is hot right now!
In addition to consumers who are spending more time on social media, Marketers are trying to figure out B2B marketing through social networking channels. Facebook, Myspace, Yammer, Pringo as well as an auttorney from Greenberg Glusker got togther on a panel in Culver City (L.A.)moderated by Dr. Karrer of TechEmpower to discuss social networking as a business strategy as well as corporate blogging, social graph, vertical social networking, demographic/psychographic targeted advertising, sharing content, liability and privacy. See video: http://buzzgap.wordpress.com/