What the hell is happening to MySpace?

16 June 2009 | 12:18 - By Stefano Boscutti

When Rupert Murdoch bought MySpace in 2005, he was hailed a visionary. Now, MySpace is losing traffic (-2%) while Facebook continues its stratospheric growth (+87%).

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And MySpace parent Fox Interactive Media may have deep job cuts on the horizon. No one's calling Mr. Murdoch a visionary now. So now many are asking, what happened (or didn’t happen) after the acquisition? Advertising revenue for Fox Interactive fell 16% in the quarter that ended March 31. News Corp. does not break out numbers for MySpace, but the site makes up the biggest part of the division.  There's going to be hell to pay.  Time to sharpen the knives, boys.

http://www.crainsnewyork.com/article/20090614/FREE/306149981

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About this Blog

New New Media looks at how our mediascape is exploding to bits. How the latest technology and the internet are changing the way we live, work and play. How the latest media is shaping us all.

Stefano Boscutti is an executive creative director and strategist. He's like a better looking version of Todd Sampson. He also has an abiding faith that stories and wordplay (and not powerpoint presentations) will change the world.

 
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