MySpace lost 10 million unique users in one month at the start of the year, according to new figures.
The steep decline follows a further round of major redundancies at the start of 2011 and the continued growth of Facebook, which now has 30 million registered users in the UK.
According to the latest comScore figures, MySpace lost 10 million unique users between January and February of this year, going form 73 million to 63 million in a matter of four weeks.
This time last year, when site began the first in a series of major relaunches, MySpace attracted 95 million unique users.
Parent company News Corporation is reportedly still trying to sell off the ailing social network ââ¬â which had hopes to reinvent itself through its streaming service, MySpace Music and its renewed focus on entertainment content.
At the start of the year Mike Jones, MySpaceââ¬â¢s chief executive announced that the company was making 500 staff members redundant and slashing its international operation to a skeleton staff.
A senior digital executive told The Telegraph: ââ¬ÅMySpace lost $100 million in the first quarter last year. To get it back on track is going to require a massive investment ââ¬â one which News Corporation it not prepared to make. It has many other priorities to put its money into. So instead, it needs to keep taking costs out of the business while it's still in its hands.ââ¬Â
In November 2010 Jones admitted to The Telegraph, that MySpace had finished being a social network and direct rival to Facebook.
Rest of article: http://www.telegraph.co.uk/technolo...Space-loses-10-million-users-in-a-month.html#
The steep decline follows a further round of major redundancies at the start of 2011 and the continued growth of Facebook, which now has 30 million registered users in the UK.
According to the latest comScore figures, MySpace lost 10 million unique users between January and February of this year, going form 73 million to 63 million in a matter of four weeks.
This time last year, when site began the first in a series of major relaunches, MySpace attracted 95 million unique users.
Parent company News Corporation is reportedly still trying to sell off the ailing social network ââ¬â which had hopes to reinvent itself through its streaming service, MySpace Music and its renewed focus on entertainment content.
At the start of the year Mike Jones, MySpaceââ¬â¢s chief executive announced that the company was making 500 staff members redundant and slashing its international operation to a skeleton staff.
A senior digital executive told The Telegraph: ââ¬ÅMySpace lost $100 million in the first quarter last year. To get it back on track is going to require a massive investment ââ¬â one which News Corporation it not prepared to make. It has many other priorities to put its money into. So instead, it needs to keep taking costs out of the business while it's still in its hands.ââ¬Â
In November 2010 Jones admitted to The Telegraph, that MySpace had finished being a social network and direct rival to Facebook.
Rest of article: http://www.telegraph.co.uk/technolo...Space-loses-10-million-users-in-a-month.html#