BUSINESS WEEK - Oct 20 - As Facebook and other social networks explode
in Eastern Europe, traditional media outlets are struggling to cash in
on the trend. In September, Facebook had 271,000 users in Romania, but
Hi5 boasted 2.3M users in a country of 21M. In the Czech Republic, the
number of Facebook users has doubled in 2009 to 1.3M, more than a tenth
of the country's population. Facebook, which hit the 300M-user mark
this year globally, registered a 180% jump in the number of users in
Eastern Europe in 2008 over the year before. In Poland, for example,
the largest social network, Nasza-Klasa claims to be adding 20,000 new
accounts daily. It had more than 11M active users at the end of
2008.Social networking has already stirred massive interest from
advertisers. In the Czech Republic, the number of advertisers on
Facebook has surged by 30% in 2009, according to Ataxo, an agency that
sells ads on search engines. Paid advertising on social networks in the
region is still marginal. In Romania, it accounts for only 1% of
online advertising, a market that last year reached 20M euros. FULL ARTICLE @ BUSINESS WEEK
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