There's been some talk in the blog world about the short-term stagnation that has beset the social networking sphere. A number of analysts have taken the line that a plateau has been reached, and that the momentary decline in usage of social websites may become an extended downward trend as the year progresses. Others predict the red blip is to be a brief one, followed by steady growth through Q2, Q3, and Q4.
One thing is for sure. We can all learn quite a bit from history. And with that being said, we bring you a tally of the social networking industry compiled by the Internet data researcher Compete for the past 12 months ending February, 2008. The list Compete has presented on its blog charts the top 20 social sites and their growth. (Or, for a select few, their degeneration).
As you can see, the chart data shows the top network, MySpace as having retained its lead over the industry's fast-growing second-place empire, Facebook. But what's really much more interesting and pertinent at the moment is Compete's discovery that MySpace, despite keeping its #1 spot, has actually diminished in visitor activity over the past twelve months by one percentage point.
On the upside, that figure probably alludes to the general stability of MySpace. Though its largesse inhibits the site from moving with the agility it once had, it's security as the market leader remains unquestionable. (At least for the time being.) The downside is that the year in review for Network #1 likely hasn't appeared to be as rosy as Fox Interactive Media, and its parent company, News Corp, may have wished for. Perhaps the site's investments in building ties with premium content producers will make for a more prolific 2008 for MySpace. We'll have to watch and see.
Facebook, quite oppositely, had an appreciable 2007 and early-2008 run. It's growth measured 77% since February of yesteryear. In fact, its growth was so substantial that no other big-name network matched or exceeded its rise in visitor numbers other than LinkedIn, which climbed a whopping 729%.
According to Compete, Bebo and Hi5 rose 3% and 1%, respectively. Oddly enough, a site called MyYearBook, which doesn't regularly get spotlighted as an industry stalwart, made its way to #4, with 284% growth in visitorship.
Twitter and Ning - one a micro-blogging platform and the other a custom-built networking platform - rose a whopping 4,368% and 4803%. The first figure, to be honest, isn't much of a surprise. 
The second, however, is intriguing, to say the least.
The fastest-growing social site of them all? Fubar. Yes, Fubar. The so-called "first online bar" claims top percentage-based honors with a laughably peculiar 3,272,217% rise in visitors. Oh, Compete, what you manage to find beneath the headline-hogging top five.
We should of course keep in mind the fact that information regarding site visits and unique visitors is hardly telling of the core health of a social network. Yet at the same time this data to some degree chronicles very basically the movement of the industry as a whole.
The summary diagnosis here: Slowing growth, but continued growth. And, naturally, lots of quirks throw in for some zesty flavoring.