MySpace Lost $150M In Last 3 Months
MySpace lost parent News Corp. $150 million for the quarter that ended March 31st compared with an $88 million loss a year earlier. The fall of MySpace was just one of the stories behind a mixed report to investors from the media giant.
News Corp. earned $839 million in the fiscal third quarter. That's a 69% drop in net income from a year earlier. The bright spot is that operating income grew 55& to $1.25 billion up from $810 million a year earlier. A major reason for the increase is a rebound in ad sales, which would benifit MySpace too …if its numbers weren't dropping.
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I don’t understand how a company can lose that much money and stay afloat. Investers? Newcorp? What is Myspace doing to change the trend?
WOW!!!
Myspace let’s users change their own pages as they see fit. That would have been a good idea, if only designers were on Myspace. Too many users made s**t pages, lowering the perceived quality when compared with Facebook, where all the pages are standardized. I think it’s what did them in: people just think Myspace is s**t compared with Facebook.