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My Space loses over ten million users in one month
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March 27, 2011
Original URL: http://en.wikinews.org/wiki/MySpace_loses_over_ten_million_users_in_one_month



Social networking website My Space lost over ten million users between
January and February 2011, according to . In February 2011, the Internet
website had less than 63 million users, down from a previous total of
approximately 73 million. In the same month, 2.3 million individuals
were on the site in the United Kingdom.

In the space of one year, My Space has also suffered a number of user
losses approaching fifty million. Earlier this year, My Space announced
their intentions to eliminate five hundred jobs around the world, which
equates to half of its employee total. '' writer}}

My Space has contributed to the success of British music artists,
including ,  and the . In 2005,  purchased the social networking site
for 330 million (529 million, 376 million). Five years ago, the site was
proving to be largely popular, according to ''''. Recently, the website
has been facing difficult competition from other Internet websites, such
as Facebook and You Tube and has now been modified to be more
significantly based on the music industry. ''Newsbeat'' has reported
that the value of My Space at present may be £50 million (US$80 million,
€57 million).

My Space's   has claimed that the website is "no longer a social network
anymore" and that it is currently a "social entertainment destination".
Zack Whittaker, of business technology news website '''', has commented
that he "would be surprised if My Space survives the year".

Myspace's new logo, part of the re-branding of the declining social
networking site. 
|The former logo of My Space. 
|Tom Anderson, the current president of My Space, in 2008. 
|Chris De Wolfe, the co-founder and former CEO of My Space, in 2008. 
|Michael Jones, the current CEO of My Space, in 2010. 
|British musician Kate Nash in 2010. 
|Lily Allen, British musician, in 2007. 
|The four members of English indie rock group the Arctic Monkeys. 
|The logo of social networking website Facebook. 
|The logo of video sharing website You Tube. 
}}

== Sources == 
* http://www.zdnet.com/blog/igeneration/myspace-lost-10-million-users-in-a-month-close-within-the-year/9111
* http://www.bbc.co.uk/newsbeat/12862139

== External links ==

*[http://www.myspace.com My Space]



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