Social Media Competition

In: Computers and Technology

Submitted By bailen89
Words 1359
Pages 6
Battle for Social Media Dominance

As Facebook currently holds 800 million current active users worldwide, they maintain the world’s leading social media sharing website. Facebook has jumped past other social media websites like Linkedin and MySpace within the first few years of existence. Google has tried time and time again to get to the place where Facebook currently has a strong hold on everyone’s online identity. Google has poured tons of money into years of development with several projects to mimic Facebook. Google has once again begun the implementation of a new social media website called Google+. Google+ is Google’s fourth attempt at mimicking Facebook’s social media website. Another powerhouse in social media is Twitter. Twitter currently has 300 million users. Before getting into the competitors of this industry, one must know how each social media network makes revenue. Since all of these companies do not force people to pay a premium in order to gain a membership they must find an alternate way of generating money. There are two ways these companies make money, investors and IPO’s, ads, and premiums from satellite companies. For example, Facebook is able to charge companies likes Zynga a 30% charge of all virtual purchases done on their game from allowing Zynga the ability to put their game on Facebook’s platform. Mainly these companies form money from companies who wish to display ads for their companies on people’s sidebars of their profile. This is mainly how Google has made their revenue from the beginning for their existence. Facebook is more or less at the center of this new universe or social media and sharing personalized information over the web. As a result of Facebook’s large success, thousands of satellite companies have become dependent on Facebook’s success and failure. For example, Zynga is a small online social media gaming…...

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