I just came across an interesting article from the Economist that talked a bit about how media companies are looking for ways to tap into the crowds of people engaging in social networks. Here’s the conclusion to the article-

One defence for social networks is to develop other revenue streams. Last week MySpace announced that it would launch a music-download service later this year. Mr Zuckerberg points to Facebook’s self-service marketing business, which charges under $50 for “flyers” on the site—to advertise a local restaurant or a club night—as a kind of advertising that should be immune to trends among big corporate advertisers. As far as their business models go, social-networking sites are still in their teen years, with bags of potential.

The last sentence could not be more true in my opinion. It’ll be very interesting to see the next wave of business models with social networking.