MySpace, the former reigning King of Social Networking is in trouble. Now being referred to as the digtial “ghetto” by social analyst Danah Boyd the site is losing traffic and money and no longer expects to get all of the $900 million it once counted on from a Google search deal. Whether it is the result of a modern day “White flight” to Facebook as Boyd suggests, the former King of Social Networking can not deny that it is struggling and revenue is down.
Once the centerpiece of Rupert Murdoch’s digital strategy and owned by News Corp, one has to wonder what happened to MySpace. Did they wait to long to fix the problem? Is there now an opening for another social networking site for the youth who may feel uncomfortable moving over to Facebook? I’ll admit, I haven’t visited my MySpace page in months. Actually, I never spent a lot of time on my MySpace page. I networked on my Howard University Ning site until almost all of us migrated over to Facebook. Now, between Facebook, Twitter, the five Ning sites I’m a member of, the many bookmarking sites, LinkedIn and now Google Wave, I doubt I’ll ever go back to MySpace. I guess I’m not alone.
Filed under: Facebook, MySpace, Social Networking, Social Networks | Tagged: digital strategy, Facebook, MySpace, Social Networking
