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Old 06-09-2009, 10:13 AM   #1
Czar

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Thumbs down As Web 2.0 giant MySpace suffers, Fox Interactive plans layoffs

Rupert Murdoch's Fox Interactive, which was slated to move 2000 of its employees into fancy new office space in Playa Vista, has halted the move and pointed towards significant layoffs.

The company, which notably runs MySpace, as well as Rotten Tomatoes and other ad-supported media and social networking destinations, has been finding it tough to generate sufficient revenue as online ad dollars dry up and attention turns toward rival services Facebook and Twitter.

More on the company's office space and $350,000,000 lease may be found here:
http://www.latimes.com/business/la-f...0,568996.story
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Old 06-12-2009, 03:21 AM   #2
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TechCrunch has reported that the layoffs at MySpace may number as many as 300-500 team members:
http://www.techcrunch.com/2009/06/10...re-may-be-cut/

Yikes! They sure are taking a pounding. Mind you, MySpace has slipped so far behind what people expect from social networks these days that it's hard to imagine them staging a revenue recovery any time soon.
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Old 06-15-2009, 04:27 AM   #3
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When I saw this article about Myspace about a month ago, it made me laugh:

http://www.techcrunch.com/2009/05/13...-june-20-2010/

It's about them sending low quality searches to Google by making Google its default search when a regular user at the site would think they were using Myspace site search. I know I've made this mistake before using Myspace search and didn't click the radio button to switch it to Myspace internal search. Basically, Myspace is being exactly like the 1990s publishers that sent low quality searches to places like Goto.com

I think the real problem is many of these content companies think they can work some financial voodoo and make $5+ CPM and base their spending on some unrealistic figure like that. It just isn't going to happen. Now I'm having flashbacks to 2000 and 2001 when I was posting here a lot about finding the real CPM value of ads and how companies value branding in their ad buying and what the real value of a content site should be.
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Old 06-15-2009, 05:54 AM   #4
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True, and the similarities between MySpace and the many free web hosts (Google, Tripod, etc) are hard to miss. Those were the sites that lost their glitter the fastest due to the low quality of most of their user-generated content, the difficulties in controlling content integrity and the huge oversupply of available inventory.

MySpace is in a slightly better place due to the improved possibilities of targeting by demographic and behavioural data and in finding relationship trends within different networks, but much of the inventory is still very low in value in some of these networks and MySpace seems to bee of those that is falling behind the eight ball.

On the other hand, Facebook surprisingly seems to have started making some very clever strides towards monetizing their network outside of a pure reliance on advertising.
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Old 06-23-2009, 04:21 AM   #5
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Fox Interactive's woes continue. In fact, the suggestion now is that News Corp may fold the entire unit back under the wing of the parent company and that Fox Interactive may be dissolved:
http://www.businessinsider.com/news-...ractive-2009-6

One of our former designers currently works for Fox Interactive in Sydney. Hopefully he and the rest of his team will be able to thrive within the walls of News Corp.
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Old 09-18-2009, 01:33 PM   #6
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Good luck to them, MySpace has really dropped the ball as people have switched to newer outlets such as Twitter, and Facebook.

I find them easier to use, more light weight, and not as much spam myself, and hardly visit MySpace at all anymore.
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Old 10-08-2009, 07:47 AM   #7
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Quote:
Originally Posted by David McHenry View Post
Good luck to them, MySpace has really dropped the ball as people have switched to newer outlets such as Twitter, and Facebook.

I find them easier to use, more light weight, and not as much spam myself, and hardly visit MySpace at all anymore.
I feel the same way, I have be a sole Facebook user for quite some time now and just recently started using twitter as well.
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