MySpace: Not Dead Yet

Peter Kafka | March 27, 2008 8:32 AM

myspace.jpegWe see plenty of evidence -- both anecdotal and statistical -- that MySpace's growth is sputtering. But it's good to remember that slowing or no, News Corp.'s social network is still ginormous. In February, for instance, MySpace rounded up 68 million uniques, or 2x Facebook's traffic, according to comScore.

And when it comes to music, MySpace is still leaps and bounds ahead of any other social network. Jupiter's David Card provides a nice compare-and-contrast illustration:

As of this minute, Coldplay has 392,819 friends on MySpace and 43,156 fans on Facebook. MySpace's Coldplay page has four songs on it; Facebook's one. MySpace's are embeddable on your page; Facebook's are not, yet. MySpace supports for-pay downloads (they're priced absurdly high, but that's not MySpace's fault); Facebook does not. MySpace's page has some personality; but Facebook's has a user video and a discography. They both have band info and touring info.

As a side note, here's a debate we've heard recently: If MySpace has such a big lead in music, why are Chris DeWolfe and company so interested in splitting that asset from the rest of the company and creating a "Hulu For Music" JV with the big music labels?

The pro: This is the company's best asset, and it's not valued enough by the market right now. Perhaps cleaving it from the rest of the site will help. The con: Are you insane? Why take the main reason many people visit MySpace and move it away from the main site?

coldplay.jpg

 

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