MySpace is the Goliath of Internet sites right now globally. Although not as
prevalent for the US population above 30, its market presence and popularity
cannot be denied. There is a story and method for their super-success and why
MySpace is even making the national news! They have three powerful factors that
have contributed to its quantum growth since it began. First is the rise of
Web 2.0 and social networking. Second is the purchase of MySpace by megalo-mogul
Rupert Murdoch. Third is the "teen factor".
The current stats on MySpace are astounding. Alexa.com has ranked them #3 web
site, in terms of traffic, in the United States. The #1 site in the US is Google,
followed by #2 Yahoo. They are ranked #6 globally for an English language site.
According to Web Pro News (10/24/2007), "Datamonitor predicts that social
networking sites will level off around the world in the year 2012....They're
expected to reach 230 million at the end of 2007". The revenue projection
in 2012 is $2.4 billion, compared to just $965 million currently. Web Pro News
states that "MySpace dominates the US market by a long shot with Facebook
at second, Google's You Tube and Orkut combined in third, and Flickr at 7.1
percent. Those are big numbers for a company who's spin doctor's would have
us believe that it had its idyllic origins in a garage!
The actual story of MySpace is not quite so romantic. Wikipedia reports that
MySpace was began in 2003 by eUniverse, now called Intermix. Brad Greenspan,
Chris DeWolfe, Josh Berman, and Tom Anderson put the initial project together.
In July 2005 Rupert Murdoch's News Corporation bought MySpace for $580 million.
Murdoch owns much of the media, as we know it, at least in the US. Murdoch News
Corp. is the parent company of Fox Channel in the US among other media enterprises.
According to Journalist Trent Lipinsky in his well-known article "MySpace:
The Business of Spam 2.0", the so-called American dream story of MySpace
was a marketing campaign. He asserted that "Tom Anderson had originally
been hired as a copy editor and his 'founder' and 'first friend' status was
a public relations invention". (Wikipedia 12/13/07)
The most recent news coverage of all-things-MySpace has not been positive publicity.
There have been many concerns over security of individuals and protection of
minors to Web predators. Teens run many innovations and trends in the International
Marketplace, like the cell phone tech driven by teens in Japan! MySpace's popularity
is also teen driven. Teens have made MySpace a huge success with membership
going from zero to 47.3 million in 2 years, largely attributed to minors. (Kornblum
USA Today) Naturally, it would be good to protect this teen-o-phile site from
the pursuit of potential offenders. Because the Internet is largely an unregulated
industry the government has been trying to put major restrictions on access.
Along with adult sexual predators, there is a potential for other abuse in cyberspace.
In October 2007 the highly publicized story of a teen that committed suicide
due to a relationship on MySpace shocked the press. 13-year-old Megan Meier
was found dead in her bedroom from an apparent suicide because of a being turned
on by a guy named Josh on MySpace. Josh, it turns out, was not even a real person
but a sick concoction made up by the mother of a neighborhood girl who had previously
been friends with Megan. They say that even bad publicity is good publicity,
as MySpace has now been on the minds and computers of a far larger populace
now.
The rapid explosion of MySpace is definitely not going to be slowing down anytime
soon and it is becoming a part of many people's every day life all over the
globe. Let's hope the world community can take the reigns of this wild stallion
and make it safer. And if MySpace shares are still for the taking, it would
be great time to invest NOW!
http://www.wikipedia.com
http://www.foxnews.com
http://www.alexa.com
http://www.usatoday.com/tech/news/2006-01-08-myspace-teens_x.htm
http://www.myspace.com
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