Facebook experiences 194% of YoY market share growth - Hitwise

Famous online marketing intelligence Hitwise says - Top social networking site Facebook is proving it's no fad as its market share continues to grow at a pace and time spent on the site rises, according to the data available till last week.
At the last commercial year Facebook has grown 194% to capture almost 60% of the market share of US. Back in September 2008 Facebook captured a relatively miniscule 19.9% of the overall U.S. market, way behind rival MySpace and other social networking sites. Nowadays, Facebook's share is almost double that of MySpace.

Twitter also witnessed enormous growth, reported Hitwise, rising 1170% YoY, although the micro-blogging platform only represents 1.84% of the U.S. market.

However, MySpace users spend more time on the site than any other social networking venue averaging 25 minutes and 56 seconds each month. In comparison, Tagged users hang around for 25 minutes 17 seconds and Facebook users 23 minutes.