February 26, 2009 by Jay Smith
In many industries 7% growth might be seen as quite respectable, good even, but not in the social networking industry, and not when your main competitor has grown by 107%. That’s the situation that MySpace find themselves in currently, after figures were released that revealed just how badly the social networking No.2 and Bebo (6% growth) are trailing Facebook in the social networking race.
Not only that but the users of Facebook are also becoming more dependent on their favourite social network – Facebook have revealed that the average amount of time spent on the site has risen to six hours per month, itself an increase of 128 percent on last year. This is the particularly impressive stat as it shows actual adoption of Facebook as opposed to joining the site then not using it.
With stats like that, and its competitors seemingly unable to come up with an answer, it’s no exaggeration to call Facebook the Google of the social networking world. Surely, we can’t be far from the day when Facebook find a way to turn this ridiculous traffic into mountains of cold hard cash.
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