Netscape Is Back

Internet and media companies want to cash in on the exploding popularity of social-networking sites, including MySpace, which News Corp. (NWS Quote) bought for $585 million last year.

"The new poster child for Internet success is My Space," says Lee Rainie, director of the Pew Internet and Public Life Project. "With the rise of broadband, particularly in the American internet market, it's just easier now for people to access this material, as well as create it and share it."

About 13% of U.S. adult Internet users have created a blog, according to a survey by Rainie's organization. That's up from 6% in January. In addition, the number of people who read blogs rose from 27% to 39%.