Just about four years ago Myspace was the most famous and most used social network. Now it is declining in users at an alarming rate. Facebook is now becoming bigger than Myspace ever was. One of the many problems with Myspace was that is was mostly used by the youth and young adults, while Facebook is used by all different ages. Facebook is simple to use and sign up for, this makes it easy for any person, whether computer savvy or not, to make an account and participate within the site. Facebook also does a better job of protecting accounts and limiting what other people may see. Thus, users of Myspace switched to the easier more secure Facebook.
With these users switching to Facebook, the number of users on Myspace are constantly declining. Advertisers are noticing this change, and while Myspace is still the leading social network in advertising revenue, that revenue is expected to decline as Facebook’s advertising revenue is expected to increase. According to “esearch firm eMarketer forecasts a 15% plunge in MySpace’s ad revenue this year (2009), to $495 million. Ad revenue for Facebook will climb 10%, to $230 million.”
This plunge in advertising dollars is also caused by the perception people have of Myspace. It is seen as young, childish, and not professional by many people I have talked to. Of the college students that I interviewed most said that Myspace is “so high school”. Advertisers don’t want to be a part of this negative perception, causing them to choose Facebook, a more professional positively perceived social network.
Flamm, M. (2009, June 14). Murdoch’s MySpace hit now a miss. Retrieved March 18, 2011, from Crainsnewyork Website: http://www.crainsnewyork.com/article/20090614/FREE/306149981
(2008, October 30). Facebook Overtakes Myspace. Retrieved March 18, 2011, from Tech casa website : http://techcasa.files.wordpress.com/2008/10/facebook-myspace-sept1.png