Stephen Logan

MySpace Announce Job Cuts Amidst Slump in Market Share

17th Jun 2009 Social Media 1 minute to read

As mentioned recently in our post entitled Facebook Overtakes MySpace in US Social Networking Superiority, MySpace have bucked the trend of resurgent social media sites and have actually seen widespread drops in membership and visitor numbers.

Whilst they still maintain a solid second position, the plight of the once runaway leader has never been more graphically illustrated than with today’s announcement that they will be laying off 30% of their staff.

With waning user interest comes a slump in commercial attention. Investment by the likes of Google in the past now looks unlikely to be replicated, meaning that belts have to be tightened and battle plans redrawn in order to make MySpace a viable business with aspirations in the future of social media.

The emergence of Facebook as the dominant force in the social sector has bludgeoned MySpace into decline. Something that clearly wasn’t in evidence a little over a year and a half ago when this BBC report documented the initial collaboration between Google and MySpace.

With Twitter quickly on the rise too and Facebook continuing to dominate and grow at the top, MySpace’s position appears a little perilous. Immediate concern will no doubt be focussed on consolidating second place and starting to redevelop the brand once more. Commercially it’s still viable, but the slippery slope can be hard to get off, just ask the people at Friendster.

No doubt this should serve as a warning to the whole industry; as it highlights that any company, no matter how previously dominant, is fallible. Twitter and Facebook take note.

Share this post

2 Comments

What do you think?

aspect-ratio
Gary Hainsworth

SEO and AI Generated Content

Gary Hainsworth
2nd Feb 2023
SEO Blog
aspect-ratio
Kelly-Anne Crean

Ecommerce SEO and Beyond – The Complete Guide

Kelly-Anne Crean

SEO Blog

Digital Ideas Monthly

Sign up now and get our free monthly email. It’s filled with our favourite pieces of the news from the industry, SEO, PPC, Social Media and more. And, don’t forget - it’s free, so why haven’t you signed up already?

Free Digital Marketing Audit

Are you a UK business that needs some expert help to uncover what’s holding your digital marketing back? Let us show you for free!

Questions?

Call us on 0330 353 0300, email info@koozai.com or fill out our Contact Form.

Map of Hampshire Digital Marketing Agency
Hampshire Digital Marketing Agency
Merlin House 4 Meteor Way Lee-on-the-Solent, PO13 9FU, UK
Map of Lancashire Digital Marketing Agency
Lancashire Digital Marketing Agency
Cotton Court Business Centre Church Street, Preston Lancashire, PR1 3BY, UK
Map of London Digital Marketing Agency
London Digital Marketing Agency
Albert House 256 - 260 Old Street London, EC1V 9DD, UK

Unlike 08 numbers, 03 numbers cost the same to call as geographic landline numbers (starting 01 and 02), even from a mobile phone. They are also normally included in your inclusive call minutes. Please note we may record some calls.

Circle Cross