PaidContent.org reports that MocoSpace, a social network that is primarily accessed on the phone, has reached 11 million users.

The company says it primarily makes money through advertising targeted at their demographic of 18 to 24 year olds, which is one-third Hispanic and one-third African-American. Recent campaigns were from Sony (NYSE: SNE) Pictures, Spike TV and the U.S. Census. In addition, the site uses virtual currency, which is expected to exceed 15 percent of the company’s revenue by the end of 2010.

MocoSpace VP of Business Development & Marketing Casey Jones said: “Scale is a critical piece to being able to deliver on the promise of our targeting capabilities. We are very fortunate to have a large, growing, and loyal audience.”

 MocoSpace provided other statistics following its appearance at SXSW, as well:

—The site generates 3 billion pages per month and was recently named the 4th most visited mobile web site in the U.S. by Ground Truth (behind big names like MySpace (NYSE: NWS), Facebook, Google).
—Average session times are over 13 minutes on mobile.
—Mobile users on average access the site more than 5 times per day.
—Users sent more than 1.7 million e-cards during the week of Valentine’s Day.
—Over 200 new artists are submitting their own music to MocoSpace daily.

Source: PaidContent.org

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