NewswireToday - /newswire/ -
London, United Kingdom, 2007/09/18 - Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report which forecasts that the popularity of social networking sites is set to soar, and with it, the broadband internet market.
“2006-2007 Western European Convergence Market Report” says that the rising trendiness of social networking sites will catalyse the improvement of user generated videos. The report finds that as more and more young people sign up and browse through subscriber uploaded content, the quality of content generated will vastly improve as well.
In April this year, nine European social networking sites, including Facebox, were united under a new brand name, Netlog, and the company’s website is soon going to be available in every European language. While the Facebox site was originally meant for Belgian youth, the Netlog brand represents communities across Europe. It has 20 million free subscribers and records over three billion page impressions every month
Authors of the study point out that User Generated Content (UGC) from websites such as Netlog has played a large part in fuelling the growth in the broadband market recently. They say that while the older generation can do without the Internet, younger people are instrumental in the penetration of broadband within households.
The study finds that while critics deride the present quality of amateur digital videos, podcasts and mobile phone clips as fairly substandard, it predicts that the quality will improve rapidly. Young people will soon be able to produce professional quality videos as they have access to media editing technology. This will shift the balance of power between the consumer/generator and established media companies, giving the former more control over what it viewed.
Additionally analysts are maintaining that other kinds of uploaded content like short-form video, video games, music videos, and even full-length films - will help augment the position of UGC as a worthwhile and effective medium.
“2006-2007 Western European Convergence Market Report ” is available from Report Buyer.
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