Millions of Users of MySpace Were Lost

Millions of Users of MySpace Were Lost

More than 10 million unique users worldwide of MySpace were lost according to the latest statistics of Tech industry conducted by their analyst comScore between the month of January and February.

According to the Statistics figure shows that from more than 73 million users of my space it was down to 63 million this February 2011.

Every year record suggests that almost 50 million users are lost in the site and in February 2010 it almost reaches to 110 million.

Despite the upgrades being done in the site to make it more about music yet millions of its users are lost.

The social networking site MySpace has been a great help to launch the career of several artist like Arctic Monkeys, Kate Nash and Lily Allen.

MySpace has already announced plans that they will cut half of its workforce this year due to decreasing number of users.

Around 500 staffs are going worldwide.

The social networking site MySpace has started to boomed five years ago and for many users it has been the first place to visit to talk to friends and listen to music.

The rise of several networking sites like Facebook is said to be the cause of lost of MySpace users.

In February 2011 more than 2.3 million people in United Kingdom used the site.

Back in 2005 Rupert Murdoch’s News Corporation bought the company for £330 million. But analyst says that if they are going to sell it today, it might only cost £50 million.

The boss of MySpace Mike Jones has been brave in facing the falling numbers of users in the site.

In one of his statement he said that the site is no longer a social networking site instead an entertainment destination.

MySpace is said to face tough times in competing with YouTube when it comes to streaming services and increased file sharing.

[Source QuotedNews]

 

Millions of Users of MySpace Were Lost