A new report from independent market analyst Datamonitor reveals that the number of people participating in online social networking (OSN) is booming. The UK has the highest membership in Europe and it is forecast to almost triple by 2012 to 27 million. Social media provide consumers with the opportunities to enhance existing relationships and create new ones. Interaction is a key factor in a network’s success, as shown by the success of sites, such as MySpace and Facebook, which encourage user-generated content. While the trend is driven by the younger age groups, many older generations are also being drawn to social media. Read more

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