Myspace and Facebook: the numbers tell it all

April 7, 2011

Yinka Adegoke delves into what happened at Myspace in his special report today: “How News Corp got lost in Myspace.”

Weak technology, management in-fighting and a rival called Facebook led to the rapid decline of the once dominant social network.

Read the special report in multimedia PDF format here.

These two graphics are telling.

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[...] The other major error in Murdoch’s social network judgment was to continually underestimate Facebook. Though he dismissed the rival at one point as a “communications utility”, Facebook’s ability to open itself up first to third-party developed applications such as Farmville in May 2007 was essentially the Myspace death blow. Four years later, Myspace is flatlining on the two most important web-life monitors: unique visitors and ad revenue. [...]