Monetization of Facebook? How timely? Just when we are discussing whether or not the monetization of blogging is capable, word about monetizing Facebook arises. Rumor has it that Facebook will begin charging users for the use of its site. Will this make users disband from the site? How many users will give it up? How many users will buy into it? Everyone can quit worrying; there is no need to fret! Thankfully, none of these questions need answers. Mark Zuckerberg, Facebook CEO, quickly put this rumor to rest during the Facebook f8 conference.
However, what would it mean to monetize currently “free” social media? Would it be catastrophic or would it help social media grow? Monetization has pros and cons. With the extra money, social media sites may be able to provide more benefits to their users. The users might also have more say and power since they are buying into the company. All the Facebook changes cause enough controversy, but with monetization, contributors may be able to bring their opinions into reality. Although the pros sound good, there is always a list of cons.
Those involved with Facebook or other social media would be required to pay membership fees. This will definitely turn a certain group of people away. It also may limit the use of multiple social media. People who use Skype, Facebook, Twitter and YouTube might only allow themselves to use one social media site. This means a drastic drop in numbers. Friends are going to make sure they have the same social media to keep in touch thus making one or two sites the main beneficiaries.
Social media will hopefully remain free. It is tough to say what will happen even in the next ten years. Are we addicted to social media in that we would pay the prices? Or would social media sites that monetize lose face? The scary thing is that no one will know until it happens. Social media has become engrained in our lives. How far are we willing to go? Social media is a way to interact and express ourselves. Experience it before any monetization occurs. Get involved early and reap the benefits of social media!
