I don't think social media is a industry as of yet, but it's well on it's way to becoming one.
As someone who has recently started on a degree in Internet Communications, social media has come up quite frequently. While this hasn't ben a term I came across until then, I now see how this role fits within marketing strategies and can improve revenue streams of buiness' large and small.
maruxz
· 8 months ago
No one can ignore Billions of $$$ revenues made in this industry and pretend as if it was regular media industry - online magazines and newspapers.
Viralwordpress
· 8 months ago
Agreed. Marius. What's in the future for the individual user of social media? So how can the small guy make billions, millions or how about even a small monthly income? http://dominatefacebook.com
@Todd Lucier
· 8 months ago
Social media is a space. Providing social media services can be a business an hence an industry if people are engaged in economic exchanges. Industry is measured by economic output, not users or pageviews.
Justin Auciello
· 8 months ago
Of course social media is an industry.
At this point, it's beyond mainstream, with constant mention on TV and within newspapers, and revenue streams--in just a few years--are off the charts.
Probably the most salient indicator is the relatively recent explosion of those who consider themselves "social media experts," as such a moniker is clear evidence of a burgeoning industry.
Alex dc
· 8 months ago
Social media is a commodity
ralphthemagician
· 8 months ago
Gold is a commodity. Social media is a buzzword.
Tedeks
· 8 months ago
Well I guess whether you call it a space, an industry, or some other term, it is definitely a hot topic that is for sure. There is so much great stuff going on around social web sites, it will be interesting to see what the next big thing is.
BrianPowell
· 8 months ago
Depends on your definition of "industry". I happen to like this one from Merrian-Webster: 2 a: systematic labor especially for some useful purpose or the creation of something of value . I also happen to believe that building a community is "something of value". So, IMO, it is an industry.
Alex dc
· 8 months ago
Social media is a commodity
kwwphoto
· 6 months ago
Gold or silver is a commodity, not social media.
crazylikethat
· 8 months ago
Indeed, social media is an industry. The web is no longer only for geeks and the old stereotype of geeks being anti-social is no longer valid. People like to network and keep in touch. Social media saw a need and made these things simple for people to fit into their fast paced lives. It filled the niche and opened new doors for business. I look forward to seeing how it evolves.
adamhirsch
· 8 months ago
I think a better question is... has Twitter helped bring the term "Social Media" into the forefront for it to emerge as an industry? Personally, I think and from my conversations, Twitter has helped define Social Media as an Industry and a method of online communication.
Jim "Genuine" Turner
· 8 months ago
With as many social media experts and gurus I see on Twitter and elsewhere I would say it is well on its way.
Sandra D.
· 8 months ago
It's a bubble.
Romeo Burke
· 8 months ago
a Real 21st Century industry
Justin Auciello
· 8 months ago
Crazylikethat, you are absolutely correct. In fact, it's quite ironic that back in, say the early 1990s when the web was still text based, people who used the internet were sometimes labeled as anti-social or geeky.
Now, you're anti-social if you're NOT at least on Facebook.
Clearly, the ascension of social media has truly altered the psychology and perceptions of people, and yes, it is constantly evolving.
aschrock
· 8 months ago
Yes and no. Social network sites could be considered an industry; they quite literally build on and monetize social interactions.
But generally speaking, social media are not an industry. Industries are not exclusively defined by popularity, but by the products they create. For one, "social media" is a rather ambiguous term used to describe a collection of (mostly) online technologies that rely on connections between people to operate. These technologies are quite disparate, and often individuals and companies use them for entirely different purposes.
In this sense, social media are a vehicle for other industries, such as advertising, journalism, and software development. Each of these industries has very specific products and practices. Social media are integrated on various levels across these industries, but by itself, don't amount to very much.
In other words: social media are tools for various industries, but not their own industry.
Ben Parr
· 8 months ago
Interesting comment. Media, broadly, refers to tools used for communication, not an industry. Nice approach.
Eric Alvarado
· 8 months ago
very well said, agreed.
GoEverywhere Team
· 8 months ago
I agree with your definition and the sense that social media is a vehicle for other industries to develop and grow their businesses. It's a new and different way to market, communicate, and interact with others.
Joe Dawson
· 8 months ago
Does the term 'social' hold back the mainstream media adoption?
markharrison04
· 8 months ago
Being mentioned in the press and having celebrity endorsements does not an industry make. Sure, facebook and twitter are great fun but an industry? I don't think so. All the social networks are a compliment to an existing online strategy but social media is no more more an industry on its own than SEO is, they just parts of a wider online industry.
adamjackson
· 8 months ago
I actually voted no on this. Despite making money in social media, I feel that it's not an industry just yet. Industries are huge and I don't think we're an industry "yet"
Also, this poll lacks substantial evidence that it's an industry simply because it's posted on Mashable which is full of readers who work and breathe social media. I think a poll like this on CNN.com or The Economist would be a better fit.
Jody
· 8 months ago
Is Social Media making money yet? Can it be an industry if it isn't?
Sujata Chadha
· 8 months ago
I believe social media is still at it's infancy. It will intrinsically become a part of everyone's life & the way people/businesses communicate & get feedback from customers. More complex and user friendly platforms & tools will develop to make it a more comprehensive communication medium. Info here will be used in ways we have not thought of before - it will make life richer by the collaborative experiences of other experts feedback (eg medical diagnosis etc). Sure we will need to resolve the security/privacy concerns.... but I am excited about what comes once it matures:-)
Mohammad Afaq
· 8 months ago
I believe social media is an industry and anyway what would you say any business that gets in billions every year.
i think social media is an industry. just need to accept this now. Facebook is making millions and billions of dollars and dominating all the web. But people are also take advantage from this industry. So its an industry for all
Jonathan
· 8 months ago
It only helps to define something as an industry if it works in a fundamentally different way. Social media is just a branch of the entertainment industry - it's just another way of getting people to engage and buy things. It's not different from other media any more than hedge funds are different from short sellers, or forestry is different from cereals. Treat it as a separate industry if you want, but that will only blinker you.
Guillaume
· 8 months ago
What would you define as an industry?? I wish you answered that in your article.
Holly Powell
· 8 months ago
In my wn opinion, i think social media is an industry.. Think about all the multiple streams of income that many people have benifited from social media.. Whether it is an industry or not, the important thing is we make the best out of it. Thanks for sharing this post..
Steve Johnson
· 8 months ago
I'm not convinced that social media is a viable industry. I still haven't seen a business model that would lend itself to sustainable profitability. We spent years building revenue in the late 90's to have it all bust in the early part of this century. I would consider social media the next big tool not an industry of it's own.
Rachel Burkot
· 8 months ago
I think social media can definitely be labeled as an industry - if not because of its current numbers, then because of its projected numbers. Social media is going to be huge in a few years' time. Some might say it's silly to base a label on future projections, but the current trends make seeing the future of social media as simple as seeing what is right in front of them. There is no doubt about it. Social media is going to be huge. So we might as well call it an industry.
swag
· 8 months ago
It's bad when people confuse features for businesses. It's even worse when they confuse them for entire industries.
Bart Vickers
· 8 months ago
Social media is a marketing channel, a subdivision of digital. So in the sense that there are businesses who generate their revenues through this channel, yes it is an industry. Those who can integrate this channel with other channels will be the most successful.
Paul Chaney
· 8 months ago
Social media is an industry. That's why the IBNMA was created, to foster its growth.
Steve Poppe
· 8 months ago
Social media is quite a "real" phenomenon, but I don't think it's an industry. Because most social media is free to users and ad supported, it is really just a subset of online media. Just my POV, of course.
David Krupp
· 8 months ago
I don't think there is any doubt that social media is about to explode as an industry. Working for MySpace I have been exposed to the new frontiers of advertising opportunties for social media networks and it is extremely exciting. It's about all about education now. Have a read of my latest blog re how MySpace is creating cutting edge oppotunities for brands today. If this isn't the start of an industry then I don't know what is! www.kruppyrants.blogspot.com
sidtech
· 6 months ago
Social Network marketing is gradually becoming an integral part of any SEO campaign. I believe this is just one of the first steps of social media being recognised of its importance as a tool to get more business. Said simply, an industry is taking shape! http://www.sidtech.biz
Kk
· 6 months ago
Agree Social media is one type of industry. Expanding very quickly.
Nope, social media is not an industry and it won't become one. It is (or will eventually become I believe) however an important part of several industries. This poll proves how much a buzzword "social media" really is. Unless there's a specific meaning to "industry" term that is meant here. That's something your question or article should have made clear in the first place I recon.
Richter10.2 Media Group
· 6 months ago
I voted for Social Media already being an industry, totally. We design WebPR campaigns, so I deal with Social Media at my day job, I love it.
I've been reading along for a while now. I just wanted to drop you a comment to say keep up the good work
joel
· 3 months ago
No doubt that social media is a growing industry.Apart from the growth of twitter and facebook, there are numerous social media sites coming up every year that scratch the surface of social media’s growth.Social media marketing is the basis for creating and obtaining quality links.It helps in getting more contacts and followers and thus helps a lot in online marketing.It is a "real phenomenon".
Akanksha Goel
· 3 months ago
Well, this poll is a little skewed :) Afterall, mashable-regulars are definitely the social-media-rocks and social-media-is-an-indutry types.
Christine LaBon
· 2 months ago
Social media is an excellent tool that can be used in any industry to build brand awareness, connect companies to their followers, and provide a place for feedback about current activities and processes. Social media in itself generates revenue, but needs a product or service to bring about profits. In other words social media cannot be sold as an intangible benefit, only utilized as one. In order for social media to be defined as an industry, networks of people would have to pay to use sites such as Facebook or Twitter. Let’s all be glad that that’s not the case. -Christine LaBon
carloslorenzo
· 2 months ago
Social media is an industry in the sense that good old marketing people found the gold and rushed for it, adopting the word and readjusting the meaning. In other words, this is what sells now, this is where the money is. So either you are a fool or you hang yourself the social media label somewhere. Some people understand the concept, some others simply make use of it in spite of not having the slightest idea of what this is about. I would say, social media is a fact, it is here to stay. It is like a race horse, a winning horse. It could run free in the wild, but sadly enough this breed horse is already on the tracks and a lot of people are betting on it.
All Comments
As someone who has recently started on a degree in Internet Communications, social media has come up quite frequently. While this hasn't ben a term I came across until then, I now see how this role fits within marketing strategies and can improve revenue streams of buiness' large and small.
So how can the small guy make billions, millions or how about even a small monthly income?
http://dominatefacebook.com
At this point, it's beyond mainstream, with constant mention on TV and within newspapers, and revenue streams--in just a few years--are off the charts.
Probably the most salient indicator is the relatively recent explosion of those who consider themselves "social media experts," as such a moniker is clear evidence of a burgeoning industry.
Now, you're anti-social if you're NOT at least on Facebook.
Clearly, the ascension of social media has truly altered the psychology and perceptions of people, and yes, it is constantly evolving.
But generally speaking, social media are not an industry. Industries are not exclusively defined by popularity, but by the products they create. For one, "social media" is a rather ambiguous term used to describe a collection of (mostly) online technologies that rely on connections between people to operate. These technologies are quite disparate, and often individuals and companies use them for entirely different purposes.
In this sense, social media are a vehicle for other industries, such as advertising, journalism, and software development. Each of these industries has very specific products and practices. Social media are integrated on various levels across these industries, but by itself, don't amount to very much.
In other words: social media are tools for various industries, but not their own industry.
Also, this poll lacks substantial evidence that it's an industry simply because it's posted on Mashable which is full of readers who work and breathe social media. I think a poll like this on CNN.com or The Economist would be a better fit.
Mohammad Afaq
Free Website Traffic
Free People Search
Facebook is making millions and billions of dollars and dominating all the web.
But people are also take advantage from this industry. So its an industry for all
http://mashable.com/2009/03/07/manage-multiple-...
Unless there's a specific meaning to "industry" term that is meant here. That's something your question or article should have made clear in the first place I recon.
We design WebPR campaigns, so I deal with Social Media at my day job, I love it.
Ali Magnano
www.whywebpr.blogspot.com
I just wanted to drop you a comment to say keep up the good work
-Christine LaBon