Wednesday, October 14, 2009

Social Media site falling...

I've never actually joined MySpace, but I do recall when it was big for music fans and mostly the younger generation. Recent posts, including a tweet I shared yesterday point to the fact that folks migrate to certain social networks. While the article points to the fact that age, class and other demographics point folks to MySpace or Facebook, the reality is that MySpace is falling off a cliff. I don't believe it has anything to do with class or age as much as Facebook is just more direct and relevant. Folks gravitate to where their friends are. Initially, Facebook was for the college crowd, then us "older" folks jumped on board and now the MySpace gen is quickly joining on board. The other day, my 10 year old nephew joined... Is it quickly becoming a fad only to become the next Walmart we all despise? As will all fads, will this to pass and a far superior online community come about? Let's see what the wave of Google brings about...

MySpace’s U.S. Traffic Falls Off a Cliff (Mashable)

Here are some major takeaways from the data:

- MySpace’s downfall is accelerating. It lost a little over a million U.S. visitors between June and July, but more than 4 million between July and August and over 5 million between last month and this month. I don’t think I have to tell you what will happen if this trend continues.

- MySpace is quickly shedding value. In fact, it’s losing hundreds of millions for its parent company, News Corp.

- Its change in leadership has not yet produced results. In fact, MySpace now has less visitors than it did in April, when it kicked out Chris DeWolfe and hired former Facebook (Facebook) executive Owen Van Natta to save MySpace.

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