Many of us look at Myspace.com as either some teenagers lack of a life or some 40 year old perverts way into a 13 year olds bedroom but as of late Chief Exectuive Chis DeWolf and media mogul Rupert Murdoch have been looking on how to expand Myspace as many sites such a Facebook have become serious rivals.
Murdoch's NewsCorp. purchased Myspace.com in 2005 for $580 million and has been growing and expanding ever since. Efforts to counter rivals such as Facebook have been creating its own music label and signing up and coming bands, as well as changing its homepage to a more useful portal to the web like Yahoo or AOL. They have also added applications such as Myspace TV and Myspace IM to bring in other demographics to add to the 110 million monthly users already signed up to Myspace.
Many advertisers are looking towards Facebook this last year due to many lude and explicit profiles have been created on Myspace, spreading spam and much stress to everyday users but it is still anticipated that Myspace will have an $800 million in revenue in just advertising in the coming year. DeWolf and Myspace co-founder Tom Anderson have been kept on at NewsCorp. as the main controllers over Myspace and have been maintaining the site and adding new features for safety and privacy to keep advertisers and bring in new investors to the site.
While Myspace may have many rivals attempting to dethrone them as America's most viewed website, they have managed to extend their reach into 15 new countries in the last year and are continually adding new features to keep up with Murdoch's demands for success as well as trying to appease new users and continuing to please the "old-school Myspacer's".
From Myspace to Yourspace
I was speaking to someone the other day about how when I was in high school (I am 26) you were a loser if you chatted or met people online. Now it seems to be expected and media moguls have been so smart to get on board. I have heard that to try and compete facebook is going to be adding games like old school board and card games onto their site.
ReplyDeleteThis is some great insight into somewhat of an unknown arena for me. I found some of the backround info on Myspace to very interesting. I think it will be very interested to see how Facebook trys to gets gain market share throughout 2008 with all the extra incentives Myspace is rolling out.
ReplyDeleteI love myspace, it's addicting to say the least, but I think it's a great way for bands and solo artists to promote their music. It's an awesome way to get noticed. Granted there are those who take advantage of such an open form of communicating, but there are ways to make it not so revealing to those sick twisted voyeurs.
ReplyDelete