Is Myspace Dead?
Sep 17, 2010
By Dee
Filed in social media
Myspace has seen better days, especially since they have been defeated by popular social media sites like Facebook and Twitter. In an article posted on ReadWriteWeb, which covers a story of how Myspace has fallen with its ability to keep up with trends and their users. Making a valid point that although the concept of young adults, as well as teens have the ability to socialize on a webpage that allows them to comment and post pictures was well thought out, these users began to age and so did Myspace. Had Myspace taken into consideration of their current users and not on gaining new users, the social site might have stayed in the league of top social networking sites.
While News Corp bought out Myspace and spent $580 million in 2005, Myspace managed to lose $174 million recently in the fourth quarter. News Corp sealed the deal in 2005, claiming it was the fifth most popular site on the internet as well as having more than 8% of all Internet advertising. But Facebook dominated the then popular social network in 2008. The CEO of News Corp is still rather optimistic with their new management team stating, “We have great confidence.” Myspace is working on improving their news feed, and has recently begun their integration with Twitter. News Corp has not stated when the site will be modified, but News Corp still has Fox News and DVD sales that keep them profitable.
In other news surrounding Myspace, Google and Myspace made it official by signing a deal that keeps the search mogul a provider of search and online advertising technology to the social networking site. Let’s hope that the new deal and the upcoming revamp of Myspace will keep users interested as well as bringing in new users.
What are your thoughts on Myspace? Will it ever be as popular as it use to be?
5 Comment(s)
By Rob Kaminoff on Sep 18, 2010 | Reply
MySpace has been dead for years. What remains is (My)Space Junk!
By Dee on Sep 19, 2010 | Reply
Hello Rob!
Thanks for the comment. Yes I agree Myspace will need a lot tuning and revamping to reposition itself next to facebook and twitter.
By Ankit on Sep 19, 2010 | Reply
No matter what Myspace does it will no longer be able to compete with the likes of FB and Twitter. As Dee mentioned, it must reposition itself and differentiate its product from the rest. This may mean getting back to its roots. Myspace is/was a great website for new music artists to get their work out to the public. It may just need to take a step back in order to take a couple steps forward.
By Rachel | @tjongolongo on Sep 21, 2010 | Reply
MySpace will have to do some pretty good repositioning if it wants to get back to where it once was. I for one keep forgetting I even have a MySpace account. All I do is feed my Twitter feed to it and that’s about it.
Nothing is impossible though, stranger things have happened. Who would’ve thought an Old Spice campaign about a guy talking about how great he looks and cool he is would go viral!
Never say never… but some good strategy and vision needs to be behind it otherwise it will fail miserably.
By Dee on Sep 21, 2010 | Reply
I agree with you both. It will be some time before Myspace can be a hit like its competitors Facebook and Twitter.
Ankit, Myspace is great for artists to get their name and material out, however, it seems as though Twitter is doing about the same thing and with real time updates.
Rachel, I recently got rid of my Myspace account because I found no use for it.
And those Old Spice commercials are hilariously clever. Who knew it would be such a great hit.
Maybe Myspace should figure out a way to cleverly invite people back with humor as well.
Thanks for the great feedback!