(1888PressRelease)
April 02, 2008 - Delhi - There is a cohesive environment on the Open Social platform these days. Yahoo! Inc. is supporting Google Inc. in the initiative of promoting Open Social development tool. Last Monday, Yahoo, Google and MySpace announced the formation of non-profit Open Social foundation.
Open Social was introduced in October last year. It is believed that it will save developer’s time and money, as it will let them create a single application for multiple social networking sites. This development would have an impact over the ad spends made over activities like banner advertising.
This teaming up of the premier web players is likely to increase advertising revenue. Yahoo is well known as the most visited portal of US. In addition to it, Google and MySpace are among the most visited social networking sites. Promotion of this API (Application Programming Interface) would enable these players to strengthen themselves in advertising fields.
As a matter of fact, the number of visitors on Facebook rose to 100.7 million in January. Moreover, MySpace experienced a rise of 15% and and jumped to 109.3 million users (ComScore). An interesting fact that catches all the attention is the ad spending on social networking sites, which has doubled than last year. This would increase the ad spend on graphical banner advertising. As now Yahoo will easily enter the social networking market, as already MySpace and Facebook have an increased share in banner ads.
It must be noted that the sales growth of Yahoo experienced a slowdown to 8 % from 22% in 2006. It means that Yahoo is also trying to strengthening its position by this association. The OpenSocial was already being supported by LinkedIN, Ning, Friendster, Plaxo, Engage, hi5, imeem, Hyves, Salesforce, Tianji, XING, Viadeo, and Oracle etc. The OpenSocial Circuit is poised to see more development, as more innovative developments are yet to come.
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