http://www.businessweek.com/magazine/content/11_27/b4235053917570.htm
On businessweek.com they had an article by Felix Gilette discussing how Myspace rose and fell. The article was the featured cover story in June but the article is still relevant now because of how it influenced social media. Myspace had millions of users logged on and networking. Now there is significantly fewer Myspace users despite the company’s effort to compete against Facebook and other social networking sites.
I found this article to be very informing about the business side of social networking web sites. It explained how News Corp. spent $580 million purchasing Myspace and put it on sale for $100 million. That is the loss costs the company faced when Myspace’s popularity fell. The article also discussed the millions of dollars spent on advertising on the website. I remember when I was getting more into Facebook and less into Myspace when I noticed that Myspace began to bombard users with ads on the home page and the personal pages. I thought this was a good lesson on how fads come and go especially in today’s culture where popularity of something only lasts so long.
On businessweek.com they had an article by Felix Gilette discussing how Myspace rose and fell. The article was the featured cover story in June but the article is still relevant now because of how it influenced social media. Myspace had millions of users logged on and networking. Now there is significantly fewer Myspace users despite the company’s effort to compete against Facebook and other social networking sites.
I found this article to be very informing about the business side of social networking web sites. It explained how News Corp. spent $580 million purchasing Myspace and put it on sale for $100 million. That is the loss costs the company faced when Myspace’s popularity fell. The article also discussed the millions of dollars spent on advertising on the website. I remember when I was getting more into Facebook and less into Myspace when I noticed that Myspace began to bombard users with ads on the home page and the personal pages. I thought this was a good lesson on how fads come and go especially in today’s culture where popularity of something only lasts so long.