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MySpace Loosing Space

MySpace Loosing Space

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Published by Nitin Chauhan

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Published by: Nitin Chauhan on Oct 29, 2009
Copyright:Attribution Non-commercial


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MySpace loosing Space
“Social Media “ as one of the fastest growing channel of marke
ngand if you this than how one can forget MySpace. You can’t talkabout social media without men
oning MySpace. If your marke
ngstrategy say that you need to target young audience than forgeteverything and focus on MySpace.Being the King in social media “MySpace” losing its space from some
me. According to numbers released by web analy
rmCompete.com MySpace’s U.S. tra
c dropped from 55.6 millionunique visitors in August to 50.2 million in September. It has nearlyshed o
20% of its U.S. tra
c since June and lost a li
le over amillion U.S. visitors between June and July, but more than 4 millionbetween July and August and over 5 million between last monthand this month.Companies that are successful in launching MySpace marke
ngcampaigns usually use fun promo
ons that invoke lots of interac
on, compe
on and bragging rights. Disney is a primeexample of this. They use MySpace not just to adver
se a moviethat’s coming out. Instead, they spend
me crea
ng a MySpace sitethat allows users to par
cipate in contests with a chance to appearin the movie or interact with the directors and stars.MySpace is poised to haul in $495 million in ad revenue this year,down 15% from last year's $585 million, according to research
rmeMarketer. In August, MySpace a
racted 64.2 million uniquevisitors from the United States, o
15% from August 2008, accordingto comScore, while Facebook pulled in 92.2 million unique U.S.visitors – up more than 100% year
http://nitinmaximumhit.blogspot.com/ http://nitinmaximumhit.blogspot.com1 of 3 10/22/2009 2:24 PM
If some major changes are not implemented NOW to a
ract thepeople back, MySpace would lose relevance in the realm of socialmedia. But then that is what makes the web so exci
ng. Thereshould be no monopoly and that’s shows the today market isconsumer oriented and what economics say Satura
on and Fall isalways there. I am not surprised if down the line
ve years Twi
ertweets low and FaceBook face disappear a
er all that’s the s
market it is. Social media brands today are inves
ng enormous
meon remaining relevant and adding new features that can keep theaudience coming back. But even with that, it would be di
cult tobelieve that the near future does not hold anything which is moreinteres
ng than Facebook, more dynamic than Twi
er etc. Maybesocial media itself will become less relevant. Time will tell.Lets come back to MySpace and see where the space gone.MySpacefocusing on music, videos and games, it hopes to recapture some of its luster. With theMySpacerefugees moun
ng, it's
me for somenew blood to make some brilliant, future
changing decisions.
MySpace rank across countries
http://nitinmaximumhit.blogspot.com/ http://nitinmaximumhit.blogspot.com2 of 3 10/22/2009 2:24 PM

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