Just a few weeks ago, Facebook launched on XBox Live and is available to the 10M Gold subscribers. 2M have logged onto Facebook and 1M have signed up for last.fm (a social music service). These are phenomenal adoption rates.
Social networking is coming to the television in a big way using the console as a vector. Neither set top boxes nor internet enabled televisions have the mindshare of users in the way that consoles do. Consoles enable multiplayer gaming across the web, digital distribution of goods and now communication. It's only natural that I would want to tell my Facebook friends about my exploits in Modern Warfare, just like I did a few years ago with gaming centric social network XFire.
With all this functionality, XBox, PS3 and Wii will become one of the main ways that consumers access media in the living room – a very powerful position to hold for advertising dollars, tv, movies and music dollars, and virtual goods and gaming dollars.