Courtney Holt, head of MySpace Music
The “Place for Friends” is starting to feel lonely. MySpace, the Rupert Murdoch-owned website once synonymous with social networking, is losing popularity and key staff in its biggest troubles since launching five years ago…
MySpace’s loss of status as the cool place to be is an object lesson in the notoriously fickle internet, where today’s cultural icon is tomorrow’s passing fad. From humble origins in 2003, the site led the so-called “Web 2.0” revolution in which users could create their own profile pages and share content with friends. Murdoch’s purchase of MySpace for $580m was seen as a masterstroke as membership continued to soar, with celebrities and politicians joining the craze.
But then came Facebook, founded by Harvard student Mark Zuckerberg, which soon snowballed with an older and apparently more affluent demographic to steal MySpace’s crown. Gradually newspaper coverage of social networks switched from references to “MySpace and Facebook” to “Facebook and MySpace”. The rise of Bebo also undermined MySpace’s dominance, while Twitter is among the latest novelties eating into users’ attention spans…
There are clues behind the scenes that all is not well at Murdoch’s Fox Interactive Media, which runs the site.
Amit Kapur, MySpace’s chief operating officer, resigned after little more than a year in the post to set up a new company. He will be joined by Jim Benedetto and Steve Pearman, senior vice-presidents of engineering and product strategy.
And, no, I really don’t care. But, some of you do.