Just when the world of social networking seemed to be channelling towards Facebook and Twitter, the old guard have taken new steps toward regaining prominence. Swiped from under the noses of Facebook, MySpace are on the verge of purchasing iLike.
To most that probably doesn’t mean a great deal; however iLike is one of the most popular apps currently featured on Facebook. It allows users to share their favourite songs with friends and give an insight into their musical taste. MySpace is already very much the social networking site of choice for many music and video aficionados; by being able to provide exclusive access to iLike, they could well corner this market and subdue Facebook momentarily.
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In an interesting new study carried out by MySpace UK, it has been revealed that many users between the ages of 14 and 21 are often happier discussing personal issues online than they are in person. 36 percent in fact revealed that they found it easier communicating with online friends; so what is behind this phenomenon and are there any issues involved?
With 72 percent of respondents claiming to feel left out of social groups away from the computer and a further 82 percent suggesting that they have moved between at least four different circles of friends, it appears social networking is becoming something of a retreat for many. Clearly the partial anonymity of the Internet, coupled with the ability to track down and talk to like-minded people – rather than those that you are simply surrounded by – has created a social liberation.
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As mentioned recently in our post entitled Facebook Overtakes MySpace in US Social Networking Superiority, MySpace have bucked the trend of resurgent social media sites and have actually seen widespread drops in membership and visitor numbers.
Whilst they still maintain a solid second position, the plight of the once runaway leader has never been more graphically illustrated than with today’s announcement that they will be laying off 30% of their staff.
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Continuing our series of entries on how modern technology is altering the way in which we use and perceive the media; today’s entry is the first of a two part segment on the rise of social media.
As with every epochal shift, the move away from the distant traditional media towards that of the highly interactive, user-generated social media, has taken many by surprise. Whilst some resolutely maintain that it is just a passing fad which offers little benefit to society, others have followed the groundswell and embraced it.
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Following on from yesterday’s announcement on UK student’s Internet usage; Nielsen have now released data on the most popularly used social networking sites in the US. Whilst it may not be immediately relevant to a number of British marketers and companies; it does shine some light on the exponential global growth of this media, whilst giving an indication of possible user-activity here in Britain.
According to their statistics, which are based on total time spent on each site, Facebook has dramatically overhauled Myspace as the clear market leader. The turnaround happened due to a drop of 31% in MySpace usage and a huge leap of a shade below 700% towards Facebook. With 13.9 billion minutes spent on the latter of these over the past year, as compared to 5 billion at the site that has now had its crown usurped, there can little doubt cast over the worldwide reach of social networking.
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Rupert Murdoch’s News Corporation announced yesterday that their social networking site, MySpace, will not hit its annual revenue target of $1 billion, falling short by some 10%.
Revenue in the third quarter fell from $233 million in the preceding 3 months to $210 million.
As discussed in this blog previously, there is certainly a place for marketing in the social networking sites but are they really the best place to find buyers desperate to buy your product or service?
Will Murdoch offload MySpace if it’s not the cash cow it first seemed? Now, who’s got money to burn?
“Phone call, Mr. Gates..”
