The European Commission has released a study on social media use and user generated content in Europe. The study is giving an overview about the market in Europe and shows its importance for the future economical development. Regarding the diverse regulations within the various european countries the EU aims to harmonize the market to foster the development. The latter may concern homogeneous regulations for journalism related to blogging or regulations of competition laws related to product recommendations and reviews.
In general the study shows that most successful social media services have been founded in the USA, but that european users are more active. Below are links to the press release and to the study with direct download.