The Decline of MySpace

The headquarters oImage result for MySpacef the infamous social networking platform MySpace are located in Beverley Hills, California. The prestige location may seem excessive for what is, nowadays, an almost entirely forgotten forum, but MySpace was, for around 6 years, the largest and most widely used social networking site in the world. Given the platform’s vast influence on the popular culture and and music scene, people were shocked by how quickly it declined in popularity. Here are some of the reasons why MySpace is no longer as widely used as it once was:

The Emergence of Facebook

When Facebook first emerged on the scene, MySpace was still a very popular choice for social media users, but especially for teenage social media users. The younger generations were overjoyed when MySpace first blew up, as they now had the ability to connect with their friends, and even their favourite bands, on a daily basis. Eventually, though, these teenagers grew in to young adults, and MySpace began to lose its appeal. This is when Facebook started to gain the edge. People found that Facebook appealed to a much wider demographic, with a slightly more grown up feel that was still accessible to the younger generations. Facebook adapts to your profile; the number of friends you have, your interests and your location history, giving it a clear evolutionary advantage.

The News Corporation’s Takeover

Rupert Murdoch’s NewsCorp bought MySpace in July 2005 for the large sum of USD 580 million. It has been said that the unbelievable losses NewsCorp has faced since that time is due, in large part, to the company’s lack of interest in or concern for its users. Murdoch’s businesses have been known to prioritise profit above all else, and this seems to have come back to haunt them. MySpace took the exact opposite approach to Facebook employees and founders, who were willing to suffer initial losses in order to safeguard a profitable future.