#FAILFriday: Myspace’s Downfall

By: Austin Jensen

We all know Facebook is the current social networking giant with just over 1 billion active users each month, but who paved the way for Facebook?  The answer is Myspace.  Myspace at its peak had 75.9 million users.  Myspace may have never had the same amount of users as Facebook, but they also existed before the current social media BOOM!  Myspace was similar to Facebook in certain ways, but they were also very different from Facebook.  There are a few key differences that we will focus on today, and those key differences led to Myspace’s fall from the top.

zinkend_myspace

Here is a little background on Myspace for those who do not remember.  Myspace launched in 2003.  It was the most visited social networking site in the world from 2005 through 2008.  Just like Facebook, Myspace users were able to customize their unique profiles (you could even put in your theme music that played whenever someone visited your profile).  Personally, I loved the music aspect of Myspace.  I thought that it allowed people to further display their personality.  Anyways, let’s now look at the main reasons for failure.

Myspace, unlike Facebook was not the easiest social platform for users to connect with each other.  Facebook came into the picture in 2008 and completely changed the way that people defined social networking.   This could be attributed to the fact that Myspace focused far more on being an advertising channel rather than staying up to date with social networking trends.  This is the opportunity that Facebook saw, and it is also the opportunity that Facebook later capitalized on!

myspace_logo

In the words of Connie Chan, an analyst with Chess Media Group, “Myspace was created by people in the entertainment industry, not by technology gurus, therefore they could not innovate at the pace that they needed to compete.” Around 2008, social networking began changing at an incredible rate.  Facebook opened the door for several other technology “gurus” to start social networking companies as well.  Myspace simply could not keep up.  After years of treading water, Myspace was finally sold for $35 million to Specific Media and Justin Timberlake.  Specific Media hopes to get Myspace back on its feet.

The big question now is, “Will Facebook withstand the test of time?”  If a social platform as big as Myspace can be defeated, then cant the same happen to Facebook?  We all know about Google+, will they be the next big social platform?  We want to hear you comments, questions, and opinions on this topic!

 

Stats supported from http://www.huffingtonpost.com/2011/06/30/how-myspace-fell-apart_n_887853.html

Advertisements

One thought on “#FAILFriday: Myspace’s Downfall

  1. Pingback: #FAILFriday: Xanga | Freaky Fresh Marketing

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s