20/4 15 million, 6.2 million photos each day, sales in 2004: $110.4 million = ?
As I wrote in July 05 about the
mobile version of Cyworld*, which just entered the US market and will come into heavy competition with Myspace, I wanted to add these bits from Businessweek's
E-Society: My World Is Cyworld.
Cyworld is threatening to swallow South Korea. Less than four years after its launch, 15 million people, or almost a third of the country's population, are members. Among those in their late teens and early twenties, 90% are hooked.
[...] Although the service itself is free, when people add digital couches or TVs to their home pages, they spend real money. They swap cash for a digital currency called dotori (Korean for "acorns"), which cost 10 cents each. For instance, a digital couch costs six dotori. SK Communications, the subsidiary that runs Cyworld, chalked up a profit of $12.5 million on sales of $110.4 million, nearly half by selling dotori. The company expects sales to double this year.
One feature that has helped Cyworld take off is "wave riding." It works like this: When you're reading posts on bulletin boards or looking at photo files, you can click on the name of someone who has added a remark or photo you find interesting and you'll be transported to that person's digital room. If you like the art or music, you can introduce yourself and put in a request to become a "cybuddy." If accepted, you can use your buddy's goodies -- from art to photos -- on your own page. The chain of wave-riding visits creates communities on the Net, which often develop into clubs of common interest in the real world: clubs for fishing, bike riding, and going to jazz performances, among others.
The growing popularity of digital cameras and camera phones means youngsters increasingly use digital images to share experiences or express themselves. An average of 6.2 million photos are uploaded to Cyworld each day, many of them directly from cell phones.
* and countinued then
here and
there.