Facebook has managed to double its income since last year in just the first half of 2011 to $1.6 billion. Part of the social network’s success comes from earning an estimated $500 million last year from the sale of Facebook Credits. These credits are used to purchase virtual goods from the slew of games being played every day and Facebook is raking in 30% of every sale. Read the full article at WSJ.com
Facebook Making Real Money on Virtual Goods
Author: Shelly Palmer
Shelly Palmer is Fox 5 New York's On-air Tech Expert (WNYW-TV) and the host of Fox Television's monthly show Shelly Palmer Digital Living. He also hosts United Stations Radio Network's, Shelly Palmer Digital Living Daily, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment. He is Managing Director of Advanced Media Ventures Group, LLC an industry-leading advisory and business development firm and a member of the Executive Committee of the National Academy of Television Arts & Sciences (the organization that bestows the coveted Emmy® Awards).