Dark Future Ahead for MySpace as Traffic Goes Down
After years of dominance in the online social networking arena, MySpace has now started its long descend down as managers of the popular social platform are having hard time handling competition against Facebook and Twitter.
Analysts said that it will surely be a dark future for the once bright star of the Internet as it continues to lose visitors to other social networking media.
Also, analysts pointed that the social networking site may not get the total $900 million deal with Google Inc following its dismal turn out this year. It will be recalled that the two online giants signed a deal in 2006 that would allow MySpace use the search engine prowess of Google in its homepage.
But recent turns of events have cost MySpace a lot, including key market shares to rivals Facebook and Twitter.
Some economic experts said that Google may soon break off from the deal, which promised some $900 million to MySpace when it meets certain hits or traffic milestones. However, data from the companies showed that it will now be impossible for MySpace to meet any.
The issue has now fueled a debate as to how much MySpace should get despite failing to meet the requirements.
A report from news outlets in the US quoting Rupert Murdoch said that MySpace should get at least $300 million from the foiled deal. However, the News Corp CEO clarified the reports, saying that the social networking site would get just a little over $100 for the entire year.
Some technology expert believe that it the Google payment, whether small or big, would be beneficial for the ailing MySpace, which has earlier claimed that it is no longer trying to compete directly with Facebook and Twitter.
Asked for comments, MySpace officials said that they are now doing major brainstorming on how they could bring back the former glory of the social platform, stressing that “it is a work in progress.”
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