Apple has just tossed a huge bone to high traffic social media sites. But will they pick it up?

Sites like Twitter, FriendFeed and yes even the mighty Facebook are grappling with the issue of exactly how they can earn enough revenue to continue to support their services without the need for future rounds of funding. They should look no further than the iPhone App Store for their first big opportunity.

Take a lesson from Apple folks. If you make something really good then people will pay for it. The iPhone App Store offers social web services the opportunity to make applications that work really well on the iPhone and iPod Touch. Any web service that desires greater traffic and greater revenue should consider creating their own “for pay” application.

Take the MLB iPhone App as an example if you will. This thing looks great. It even includes the ability to stream in-game video updates. This application will have features that the user won’t be able to get anywhere else. And I know that MLB will have no problem with charging a fee for this application.

Social web services should consider adopting a mindset similar to that of Major League Baseball by charging for enhanced services. A sweet iPhone app could (and should) easily be the first enhanced offering that all social web services introduce to their user base.

I know that some people are thinking, “No dude! Make it free and support it with advertising!” Forget that model when it comes to the iPhone. Do you really want to put advertisements on a screen that small? I say, “No.” Ads will ruin the experience and make people less enamored of your application.

The bone is out there on the ground. From July 11th on we’ll see how many social web services pick it up and run.