I haven't decided yet whether Twitter is going to be useful for social networking or not. I know for sure though, that Tiwtter is a very effective marketing tool for celebrities and companies.
I only have a few "followers" on Twitter, so it is not very useful for myself or keeping my friends updated. It is far more useful for me to see follow people on my favorite T.V. shows or my favorite musicians. I am constantly updated about what new project they are working on, when a CD is coming out, or just what they are doing. If I want to tell my friends something that is really exciting, I would just send out a mass text, which makes Twitter not as interesting or exciting.
From a celebrity's standpoint, Twitter is a really good source for free advertising. Depending how many followers someone has, they can send out hundreds of thousands of free "ads" every day. I think it is important to not just use Twitter as a source of advertising though, otherwise followers could become numb to what you have to say.
Whether Twitter is just a marketing tool or a valid social network, it is becoming extremely popular.
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