Myspace a better ad buy???

It is no secret that Myspace and Facebook can take up a considerable amount of one’s day, but it seems that as these sites are becoming more advanced, people are picking social networking over television. According to a recent Australian study of 18-24 year olds, this market is choosing networking over television.

“The UK research showed 45 per cent of all 18-24 users said they would rather spend a spare 15 minutes on a social networking site instead of in front of the TV, reading, talking on their mobile or playing video games.” (http://www.news.com.au/entertainment/story/0,26278,23278095-5007185,00.html)

This begs the question, what do social networking sites offer that television can’t? Perhaps it is because sites like Myspace and Facebook are customized to what the individual wants. It is your friends and your interests, in short it’s all about you. The recent writers strike in Hollywood has halted production on most TV shows for almost three months. But, is this a valid reason for the shift in attention from Hollywood entertainment to personal entertainment?

The writers strike isn’t helping, but the addiction to Myspace and Facebook has been growing for years. Even entertainers, nightclubs, restaurants, and businesses seem to have been pulled in by the allure of social networking. Advertising on these sites seems to be the smartest way to reach this target market.

Soon enough, cost efficient viral marketing on social networking sites will be more productive than purchasing a million dollar spot on TV shows like American Idol or events like the Super Bowl. If this trend continues it will begin to be seen in advertising dollars spent and values of advertising will shift. What will social networking cause next?