MySpace Loses Ten Million Visitors In One Month

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In what will likely prove to be yet another bit of unpleasant news for News Corp, their property MySpace has lost a chunk of unique visitors this month over last. And that’s not where the bad news ends for the troubled site…but only where it begins.

The specs are nothing short of a disaster–not only is MySpace down to 63 million unique visitors from 73 million only the month before, but traffic is also estimated to be only half of what it was fully a year prior. MySpace is also marked by huge losses of cash, starting with the estimated $580 million News Corp shelled out to get hands on the site in the first place back in 2005, and continuing on to the present day where plenty of nine-figure numbers are being tossed around that all add up to the same thing: the aforementioned huge losses of cash.

About the only people happy to hear these stats are the folks out at social gaming site Zynga, who are reportedly still in the hunt to get their hands on MySpace, and will likely be able to do so at fire sale prices just so News Corp can get this particular albatross cast off from around their collective neck.

The obvious connections can be made here, of course, that MySpace is a sinking ship that’s bleeding users, most of whom are either going to Facebook, Twitter, or nothing at all. And this is somewhat appropriate, and pretty likely. Though it remains to be seen whether this is a commentary specifically on MySpace itself, or on the nature of social media as a whole. Some are already convinced that having a Facebook profile is an invitation to job loss either now or in the future, and the point of Twitter has escaped many so far (why limit yourself to 140 characters?). But the key point remains that, at least for one former social media icon, the end is likely nearer than any of us thinks.