Remember when social networking was all shooting stars and coy mirror photos? Those were more innocent times. The worst Myspace and makeoutclub and Friendster ever did was create Tila Tequila, and it appears some people are nostalgic for that kind of harmless fun. “YOU’VE SEEN FACEBOOK, THE MOVIE. WE BRING YOU MYSPACE: THE PARTY,” says the invite for an all-night 2005-themed dance party at The Bell House. “The most RIDICS party EVARRRR!” Read More
A dispatch from the sad saga of Myspace, the Tumblr-Facebook precursor once thought to be worth $327 million, comes to us from the Pew Center, which today issued a comparative report on “social networking services.” Myspace had a still-impressive 35 million visitors last month, according to comScore (although that number is dropping) and Pew has one statistic that contrasted starkly with the other social networks. A supermajority of Myspace’s users have been on the site for more than two years: 76 percent. For the other sites, that number is around 33 to 36 percent.
This is a reflection of Myspace’s inability to recruit new users, sure. Just three percent of its users joined in the last six months. But isn’t it a basic rule of sales that new customer acquisition is much more expensive than existing customer retention? Myspace’s users are highly familiar with the brand and the interface. Considering all the money flowing to start-ups whose main challenge is the struggle to recruit users, it’s hard to believe its corporate overloads (this bloodbath is all your fault anyway, News Corp.) are having so much trouble finding a buyer. Read More
Mike Arrington writes about the fascination with Myspace’s decline. “It’s like slowing down at the scene of an accident,” says an anonymous source. “This is a dramatic situation, and more drama is likely as the scene continues to unfold,” says Mr. Arrington. Can’t wait to write these words about The Daily.