Friday, November 23, 2007

Striking Out

"If the writers strike persists through the end of the month, it could suck $200 million from the entertainment industry's contribution to the Los Angeles economy, one expert predicts.

Jack Kyser, chief economist for the Los Angeles Economic Development Corp., said that more informed data will come with the November release of state employment figures, due December 21, but using the 1988 WGA strike as a guide, fallout is expected to be significant. Beyond that, a full economic recovery could take months."

"The Center for Media Research notes that the latest figures from Nielson Online support their recent research brief about the importance of the trust placed in word of mouth marketing.

The Nielsen figures for the top U.S. social networking sites and blogs in October show that:

Facebook more than doubled their traffic in the last year

MySpace had a 19 percent growth over October 2006

Althought their numbers are much smaller, LinkedIn was the big winner in terms of growth - 189 percent!

Kids are getting active in the social media space too - Club Penguin visitors grew by 157 percent

Buzznet, a new kind of social site that gives members the tools to create multi media around music and pop culture is also attracting a growing audience. They’re up 117 percent in the last year."

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