How do social media sites make money ?

[ilonak]

I have a great idea for a social media website, however I was curious how they
make money ??

I know it's kind of a stupid question since I know that facebook has ads on there from companies,
but are their other ways ??


Thanks!!!
Ilona

 

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[buggy]

The main ways are:
- Advertising (Everyone)
- Replacing affiliate links (Pintrest)
- Feature upgrades (LinkedIn)
- Selling user data (Facebook Ads)

If you're in strong niche (more like a community than a social network) then you might be able to add:
- Subscription (Dynamite Circle)
- Building an application (SEO Moz)


Rich

 

[ilonak]

I see, thanks!

 

[Jerieth]

Advertising

Probably the advertising is the best method.

There are a lot of options here, you could do Pay-Per-Click ads like Bidvertiser or you can join a lot of different affiliate programs like Amazon for example. You could also have special member services or games in which players can purchase services. Usually the best thing to do is focus on getting popular, then after you have some success, then look for ways to monetize.



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[healthstatus]

Ipo

 

[Entourage]

Also partner deals - for example facebook & zynga (farmville etcetera)