Well, at least we have some numbers now…a year after UK broadcaster ITV bought the original social network Friends Reunited (it is like Classmates.com of UK), it has released some revenue numbers for it, even though the acquisition has not gone so well, according to industry analysts.
Friends Reunited reported a 37 per cent increase in revenue to about $23 million in the first nine months of the year…this number comes as NTL makes a bid for ITV, and among NTL’s reasons: a need to revive Friends Reunited. It wants to expand Friends, probably using the Virgin brand, for which it owns licensing rights.
Friends has lost share when compared with the social networking sites MySpace and Bebo, according to Hitwise data, though unlike the other two, Friends is has a subscription service as well.
Related:
—ITV’s Digital Media Plans; $78 Million Online Ad Revs in 2005
—Can ITV Makes Some New Friends?
—ITV Does Buy Friends Reunited For Upto $300 Million