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The "Place for Friends" is starting to feel lonely. MySpace, the Rupert Murdoch-owned website once synonymous with social networking, is losing popularity and key staff in its biggest troubles since launching five years ago.
Latest figures show that Murdoch is being beaten in the fight for social networks. MySpace suffered a drop in visitor traffic last month and is now less than half the size of its younger rival, Facebook. Three executives recently quit the one-time darling of the internet and there is speculation its co-founders will follow.
MySpace's loss of status as the cool place to be is an object lesson in the notoriously fickle internet, where today's cultural icon is tomorrow's passing fad. From humble origins in 2003, the site led the so-called "Web 2.0" revolution in which users could create their own profile pages and share content with friends. Murdoch's purchase of MySpace for $580m was seen as a masterstroke as membership continued to soar, with celebrities and politicians joining the craze.MySpace had 124 million monthly unique visitors last month, a decline of 2%, according to the marketing research company comScore. Facebook, by contrast, racked up 276 million unique visitors, an increase of 16.6%.
Murdoch's purchase of MySpace for $580m was seen as a masterstroke as membership continued to soar...
Reminds me of the vast amount of money paid by UK broadcaster ITV for the then popular but grossly over-rated friendsreunited site/brand/franchise!
Oh, how bitter the taste of lemon must have been then for ITV's shareholders! - Lol!
For my recent 30th H.S. reunion, nearly the entire event was organized via Facebook page for the "class of 78" (for our school), and by friending the organizers on Facebook... and it was all free unlike Classmates.com which hounds users to sign up for paid services -- sorta blackmailing people with emails like, "A Classmate sent you a message -- find out who by signing up for a (paid) membership".
NOTE: I posted my profile pic on Classmates.com with large lettering across my pic saying, "Find me on Facebook".
With FB's API and ever growing assortment of applications, games, "fan pages" and other extensions to the platform, as well as "Facebook Connect" which allows other websites to interact with FB users and more importantly with the underlying databases make FB a more attractive platform for developers, marketers ANd users.