In an attempt to keep MySpace alive and kicking, News Corp. is vowing to reposition MySpace as a one-stop entertainment hub. The move makes sense as it has lost its position as the all-encompassing social networking site that Facebook as claimed.
The move is hardly surprising as MySpace has been known over the past year to be the place, as one Sinuate Media staffers said, “for musicians and models.” Traffic has been slowing on MySpace as more people have flocked to Facebook and other social sites like YouTube instead. In addition, Facebook’s cleaner look appeals to the older audience it is now attracting.
From today’s Wall Street Journal article:
The moves follow a dramatic reversal of fortunes at MySpace as Facebook last year surpassed the company as the world’s largest social networking site. In May, MySpace had 70.2 million unique visitors in the U.S., a 5% decline from a year earlier, according to comScore Inc. By comparison, Facebook’s U.S. unique visitors have nearly doubled to 70.3 million, from 35.6 million a year earlier.
Though Facebook’s growth is still going strong, MySpace has been able to keep in the running by leveraging its video section.
The site is also second to Google Inc.’s YouTube in online video traffic, according to online measurement firm comScore.
While Facebook integrates video primarily into a person’s stream, MySpace allows users to more easily search for videos on their website. With this refocusing, the question is: Is there enough room for both Facebook and MySpace to survive?
Photo by duff_sf on Flickr