27% of internet users created a social network profile in 2007. Already in 2008, 60% had. This is according to a survey by eMarketer, which I covered on Search Engine Watch this morning.
And despite all the talk you hear about how difficult it is to make social media profitable (both on the network end and the advertiser end), UK social network ad spending is expected to rise 77% this year and 148% by 2012.
The UK social network ad spend makes up 60% of the overall European market.