Wow, something’s up here—this is the second time this week we’ve written about MySpace. The granddaddy of all social networks is having quite the week for news, with the announcement of their video fingerprinting ad partnership Monday, their Q3 announcement, rumors about the income from their new ad platform and rumors about naming a CEO for their new music division. Whew!
Yesterday, MySpace’s parent (grandparent?) company, News Corp, discussed its Q3 earnings. While many of the conglomerate’s divisions did poorly, MySpace’s unit still posted a 17% increase in revenue YOY. However, they are feeling the hit of the failing economy, as Rupert Murdoch said:
“We are doing slightly better than the marketplace, but it’s clear from everybody else that there’s a lot of softening in the display advertising marketplace, and we are clearly beginning to feel some of that.”