There is a big distinction in the terms Social Networking and Social Media. While many use these two terms interchangeably, you can separate them and the websites that represent one or another or even both effectively.
You can parse out the word Social from Media and Networking in each term. Social Media can be called a strategy and an outlet for broadcasting, while Social Networking is a tool and a utility for connecting with others. Essentially, you can lump both terms together under the umbrella of Web 2.0.
The difference is not just semantics but in the features and functions put into these websites by their creators which dictates the way they are to be used. There’s also a kind of, which came first, the chicken or the egg kind of argument to be made here. I suspect that Social Networking came first which evolved into Social Media.
Social Networking.LinkedIn is a good tool for Social Networking.
Social Media. YouTube is a really good Social Media website.