Myspace was the Facebook back in those days, but today, it's been struggling really bad in terms of getting back it's users. How bad is the situation at Myspace? Well its "Pretty bad: Not only is the social networking site losing tons of money, but the chief operating officer of its parent company wants it to rebound "in quarters, not in years.""
Facebook just took the very essential factor for a social networking site to survive, users/customers. While Facebook boasts their 500 million plus users, Myspace's reporting only tens of million of them, that's a very small fraction from Facebook's. Even their new website can't do anything about it. Even if Myspace includes integration with Facebook or Twitter it still did not help. So what's the future for Myspace? I'll take a snippet from my source so that I won't lead you to somewhere else.
"We've been clear that MySpace is a problem," [News Corp. COO Chase] Carey told Wall Street analysts in an earnings call. "The current losses are not acceptable or sustainable."
He says he's optimistic about MySpace's new focus on social entertainment.
But with traffic numbers that "are not going in the right direction," Carey wants to see "a clear path to profitability" on a timetable measured "in quarters, not in years."
You be the judged and you interpret what that means.
Source: Gawker
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