Social networking is the buzz for online marketing but it’s getting more and more crowded and competitive all the time. MySpace is still one of the Internet’s biggest social-networking sites. They have 200 million registered profiles and 100 million unique users a month.
A poll conducted by eMarketer on March 2, 2007, showed that Facebook was ahead when in the 17-25 year old age bracket. Facebook was the most viewed site among all respondents. MySpace focuses on the 18-34 age group.
Facebook is getting new profiles at a rate of 150,000 a day. Worldwide Facebook is growing at a phenomenal rate:
Worldwide daily visits to MySpace and Facebook, according to Comscore (June 2007) :
MySpace: 28,786 72% growth
Facebook: 14,917 299% growth
Fox says revenue for MySpace will top $1 billion for its fiscal year ending in June.
Chief Revenue Officer Michael Barrett, 45, is in charge of marketing at Fox Interactive. In an interview on USA Today, Barrett talked about the main differences between Facebook and MySpace. He said that Facebook is more to keep in touch with people you already know. He sees MySpace as that plus a place to meet new friends.
To me the most interesting question was what is stopping marketers from creating MySpace profiles to market their brands rather than buying advertising on the site. Here’s Barrett’s answer:
Companies still do it. We have terms and conditions that regulate the nature of your profile, and if it’s a pure commerce profile, we have the right to take it down. But we don’t really exercise it.
Sounds like a green light to me.
As for himself, he says he has profiles on both MySpace and Facebook.