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Only 20 domains capture a whopping 39% of all our time spent online.
Only 2.1% of our time is spent on Google.com (GOOG) (includes all sub-domains).
MySpace (NWS) (#1) is miles ahead of Yahoo! (#2), however Yahoo! impresses. Yahoo holds a significant lead over Google+YouTube.com, Microsoft's (MSFT) MSN+Live.com and AOL+AIM.com.
Yahoo toolbar is installed by default in Windows XP Media Center Edition, and in other XP distros. Not to mention regular prodding to install it by companies like Adobe. As long as the user has not uninstalled the toolbar and has their web browser open, they are 'spending time' on Yahoo. Unless the numbers are adjusted to account for toolbar behavior, including Google's, it's hard to give them weight.
I still prefer to get my numbers from HitWise (which is not, apparently, a contributor to Compete.com's data sources.) Compete's primary data source is, in fact, their toolbar, with a few additional resources being provided on an ad hoc basis.
What I wonder, alluding to what StupidScripts was saying, is if "dead time" where I may have a browser or tab open - that I am not actively using - is counted in these calculations, or removed. I think that both Google and Yahoo would probably see a significant drop if those numbers are in there and then would be dropped.
However, having some teenage nieces on My Mysapce friends page and seeing the number of often weird messages they post to all their friends, I can certainly see why they are tops.