what viability would a subscription-based social networking service have?

You see stories like this one, and you wonder how Facebook is continuing to make it. So many people I know are either leaving, or reducing their involvement (including myself), that is seems it is destined to be the next MySpace.

Over the past couple years, I have seen companies advertise themselves by giving links like facebook.com/MyCompany. When it’s in addition to you “real” website (MyCompany.com), that’s not a bad thing.

But when it’s the only outlet you give people to interact with you? You’re outsourcing your business to someone else, and hoping they don’t screw you over.

That doesn’t seem to smart to me.

I understand Facebook needs to make money – they are a business, and not a charity (and even if they were the latter, they still need to pay for electricity, engineers, and equipment). But I think that the pure advertising model is not as lucrative as it once was.

Which makes me wonder how successful a subscription-based social network could be: call it something nominal – maybe $10-20 a year, but give users much fuller control over their “experience”: a mashup of MySpace’s crazy customizability, Facebook’s interface, and LinkedIn’s professionalism.

It’s a thought. Anyone want to build one with me?