Mobile Social Networks embraced by Millenials.

Mobile social networks are quite popular with the Millennial generation, just as social networking is, reports In-Stat http://www.in-stat.com . Blogging, photo and video sharing, location-based socialization services, games, SMS, and IM will eventually be combined to afford the mobile user the entire social networking experience from a handset application, the high-tech market research firm says. The mobile handset will simply become an extension of the user in most aspects of life.

“The critical issue most mobile social networking site and application developers struggle with is how to make money with their services,” says Jill Meyers, In-Stat analyst. “There are three primary methods of revenue generation for mobile social networking applications— advertising, subscription services, and premium upgrades.”

Recent research by In-Stat found the following:

– In-Stat predicts a steady growth rate culminating in the number of US millennials subscribing to mobile social networking reaching nearly 30 million by the year 2012.
– Social network advertising continues to be experimental to marketers, but 2008 revenues are predicted to be over $1.5 billon.
– Last year’s introduction of the iPhone enabled the least techno-savvy user to surf the Internet, download and play music, take pictures, send messages, and record videos, all on a thin, touch-screen-operated unit. This has changed mobile phone users’ expectations.

For more information at http://www.instat.com