Overview of the Social Media Industry, Business and Industry Trends Analysis

  Since most social media accounts and activities are free-of-charge, the challenge for social media firms has been to monetize their vast user bases.  By the end of 2016, Facebook had roughly 1.86 billion monthly users (the majority are on mobile devices) and LinkedIn counted more than 467 million, while Twitter had more than 313 million.  LinkedIn, for example, has quite successful in generating revenues.  It not only sells advertising, but also sells subscriptions to account upgrades for users who are interested in deeper services.  Since LinkedIn, largely aimed at business professionals and job seekers, is a popular way for…

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