72% of social networking users would never pay to use the site
Few US consumers are willing to pay a monthly fee to use social networking sites, according to Parks Associates. 72% of social networking users would stop using a site if required to pay a $2 monthly fee. Likewise, nearly 40% would stop if a site contains too many advertisements. Parks Associates found 80% of broadband users ages 18-25 use these sites on a monthly basis; however, monetizing these users is proving to be difficult, with even category leaders such as MySpace struggling to turn big profits.