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BizReport : Social Marketing : October 12, 2009

Hitwise: Facebook experiences 194% YoY market share growth

The social networking site Facebook is proving it's no fad as its market share continues to grow at a pace and time spent on the site rises, according to new data released last week by Hitwise.

by Helen Leggatt

facebook logo.gifIn the last year Facebook has grown 194% to capture almost 60% of the market share of US. Back in September 2008 Facebook captured a relatively miniscule 19.9% of the overall U.S. market, way behind rival MySpace. Nowadays, Facebook's share is almost double that of MySpace.

Twitter also witnessed enormous growth, reported Hitwise, rising 1170% YoY, although the micro-blogging platform only represents 1.84% of the U.S. market.

However, MySpace users spend more time on the site than any other social networking venue averaging 25 minutes and 56 seconds each month. In comparison, Tagged users hang around for 25 minutes 17 seconds and Facebook users 23 minutes.

Tags: Facebook, Hitwise, market share, social marketing, social networking

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  • Social Networking seems like the current trend. There are a number of social networking platform and services available, but for big companies nervous about venturing in the social world, the ability to let your customers be your brand advocates is the biggest step.

    If companies can be comfortable letting go of some of their brand control, then they'll surely grow with the social networking trend.



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