Social networking site Myspace has fallen out of the top 10 networking list for the first time ever! About 10 years ago, Myspace was one of the most popular social networking sites, used a lot by music artists to showcase their music. This included young unheard of talent who used the site to promote their music and gain feedback.
The reason for this happening is due to the fast moving pace of the social networking industry. In its prime, Myspace did not have a lot of competition other than Bebo and Hi5 as Facebook was just about starting up. Between January and February 2011, the number of Myspace users declined by 14.4% from 73 million to 63 million. Check out some social networking site statistics http://www.mediabistro.com/alltwitter/social-sharing-2011_b16754
So why is it declining so much? The most popular social networking sites such as Facebook and Twitter often add new features that meet the needs of their users; they get their marketing right! For example, Facebook added a new “Timeline” feature today which allows users to check the history of their Facebook at any time rather than just the latest posts, allowing users to look at anything they have ever published on Facebook.
The decline of Myspace, once the most popular social networking sites shows how much competition and growth their currently is in the social networking industry. What started out to be something that experts predicted would decline has now turned into major industry, growing at the correct time when the world economy needs a boost! As social networks continue to add new features to gain more market share, companies like Myspace need to keep up in order to avoid a decline in users. Do you think Myspace will fight back, or is it just a part of internet history? Personally, I think that Myspace will not fight back from this as there is too much competition at the moment, and with the emergence of Google Plus, this has made the task a lot more difficult.
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I think Myspace is dead and gone in terms of a social networking site that can be used for everyone. The competition are all ahead of the game the improvements that the popular sites such as Facebook and twitter make keep widening that gap. Myspace has improved a lot within itself but not enough to grab everyones attention. i think what it needs to do is find a niche and just focus on that. Myspace stated with music so maybe its best that it goes back to music and maybe thats how it can still be around for a while.
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