By that I mean, that people will not just want broad Social Media networks where 'one size fits all' but rather networks that are full of like minded people. People interested in the same sports or same team; the same artists or bands; the same hobbies or interests.
Of course niche means smaller. So your reach for such a social media site is to a narrower base of people - but in global terms, that can still be in the millions.
For example a Social network dedicated to Soccer or American Football or U2 or Baking (on which Pinterest was largely built by the way).
Nextdoor, is one of those and to prove it, they've just raised 60 million usd, having previously raised 40 million usd. Their slogan is, 'Your neighbourhood online'. It's Social Media for neighbours.
It's on the go for two years.
Nextdoor is a Social network for neighbourhoods. A chance to meet people who live near you online and perhaps offer them local services like babysitting, or just to engender goodwill. Perhaps just looking out for a neighbour or alerting them to things that are going on. Helping to create community.
Most of us don't know our extended neighbours and Nextdoor helps us to do that or at least, those of us that want to. It also allows local trade, never a bad thing, to generally make our lifestyles better.
Nextdoor as yet, doesn't generate revenue but clearly as the network develops, revenue opportunities such as local advertising or local trading, will.
Not a bad idea at all.
Social Media is becoming niche.