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30 / 06 / 2011

The devaluation of a social network: MySpace

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The devaluation of a social network: MySpace

MySpace can be described as a pioneering social network. It was launched in 2003 introduced the concept of personal profiles of users with networks of friends, applications of blogs, groups, and uploading content such as videos, music or photos. Since its inception emerged as the strong competition from the blogs offer a personal web space with multiple applications. However, the emergence of new competitors such as Facebook and MySpace's lack of response makes it the preferred space for musicians and artists far from widespread use among the other people and enter a process of decay which directly affected profitability with the consequent dismissal of staff moving from 1400 workers in 2009 to 500 in 2011 with the announced reduction of the posterior half of the workforce.

If 6 years ago Rupert Murdoch bought the social network for Euros 437 millions, it just has been sold by Euros24 millions. Everything goes very fast in Internet and the launch of large and impressive projects is not a warranty of permanence, if they can not evolve in time and face the threat of new competitors they disappear even faster. Innovation within Internet is much more important than in the offline world.



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