James Delahunty
26 Mar 2011 3:15
If analyst comScore is right about the latest trends for the recently revamped MySpace, then News Corp. has more to cry about.
The industry analyst say its figures show MySpace lost an incredible 10 million users between January and February of this year. Specifically, it reports 63 million users of MySpace in February this year, down from 73 million just a month before.
Compared to last year, comScore says MySpace has lost a massive 50 million users, down from close to 110 million in February 2010. The social networking site has attempted to rebrand itself as an entertainment hub focused on music.
At one time it was considered the number 1 social networking site across the world, but saw its popularity eaten up by Facebook, which now touts over 600 million users. MySpace has recently announced it will slash half of its staff, and reports suggest that News Corp. is looking to sell the service asap.
Having bought it for a princely sum of $330 million back in 2005, News Corp could expect to get as little as $50 million now for MySpace.