Mashable announced their Open Web Winners today, and the article mentions some of the numbers they had participate this year.

Over 100 Blog Partners have helped make this the biggest Open Web Awards to date with 50,000 total nominations, 80,000 total votes in the first round, and 90,000 votes in the final round. Our blog partners come from 25 countries and are written in 10 different languages.

I used Mashable as an example here not only because it is an informative site, but because it too has become a buzz word. Websites in the coming months needs to be re-evaluated and developed as mashed-up sites. By mashed-up, I mean put together using 3rd party social media outlets as features (widgets) along side the core site content for the company or product the site is promoting.

This is kind of a no brain-er for anyone who has been in the online world for more than a year, but what is going to be interesting is how are the social media networks going to survive offering free services? As more and more large traffic sites start relying on these free outlets, like Twitter and Facebook as their main source of customer service, who pays the hosting bills for all of this traffic?

What are the options that are available that can generate revenue for these companies, and still keep an audience that is used to free and fun? First thing that comes to mind is Advertising, but there are a number of catches to this. With the simple nature of social media networks and social widgets, the two way conversation is the key and what company would want to possibly promote other companies and products on their websites or while talking to their customers. That would be like sitting at a Chili’s and having Applebee’s sponsor all of the TV’s in the bar. (Trust me I have seen this happen).

OK, what if the social networks charge extra to have advertising free services for business users? Simple you couldn’t because there is no way to tell who is a customer and who is a business. Or are they both now?

To end my ramblings this morning, I wanted to put this thought out there. As the next few month unfold, with the world economy in a slump and more and more people are unemployed, how will social media survive? It exists because it is free, it’s popularity will continue to grow, but as the saying goes, there is not such thing as a free lunch.