Myspace Continues to Sink, Loses 10M Visitors in a Month
Myspace’s traffic has declined by 10 million unique visitors in just one month, according to recent data from comScore. This simply confirms to obvious fact of Myspace’s inevitable demise. Between January and February of this year, their traffic dropped by 14 percent, going from 73 million to 63 million visitors. Even more evidence for the death of Myspace: the site’s traffic is half of what it was a year ago.
Myspace’s unfortunate owner News Corp is trying to sell the company. They bought Myspace in 2005 for $580 million, however a lot has changed since ’05 and they are losing money on the site. At the beginning of this year, they laid off almost half of Myspace’s staff. There has been some interest from potential purchasers of the site, one of which is social gaming company Zynga.
In the meantime, MySpace is trying to keep its head above water in several ways, such as teaming up with Facebook last November to allow users to link their accounts. Around the same time last year, MySpace backed away from their focus on social networking, instead returning to their roots as primarily a music and entertainment site.
Having watched the rise and fall of a social network, do you think the same is in store for Facebook?