Social Media Week has come under some criticism in its first few days, some have debated its value, whereas others – like Waggener Edstrom’s Jon Sik – have asked whether the space is simply too saturated with events.

The week-long series runs till February 5th in six cities across three continents, building on the success of the inaugural New York event in 2009. With support from the likes of Chinwag, the IAB and Tuttle in London, and Wired, Mashable and PepsiCo’s Refresh Project globally, it’s not exactly small fry.

With every other person on Twitter claiming to be a social media consultant or expert, the space tends to get tarred with a poor reputation. However, last night’s opening ceremony was packed to the rafters – with both the usual suspects and new faces keen to get involved. Popularity shows no signs of waning.

Where’s the real benefit though? Who gets the most out of the week’s event? Is it the agencies that attach themselves to the events, the brands that attend – or the sponsors that raise their profile?

As always, please vote below and do leave a comment if you’re taking part in one of the events. What’s your objective in doing so?