Can Social Networks Survive

In a recent article in The Economist they explain that it will be hard for Social Networks to survive because it is increasingly harder to monetize the product.  It compares Social Networking to hotmail, IM and other web-mail type services which have succeed as a format, but are not the source of much revenue for the publishers.  I would argue that the element that the article failed to mention are the branded communities and profiles that social networks create for advertisers which not only enhance the brands opportunity to touch consumers, but also generate revenue for the social networks.

  

 What are your thoughts?

Here is a link to the article: http://www.economist.com/research/articlesBySubject/displaystory.cfm?subjectid=348963&story_id=10880936