Is MySpace losing out in social media?

MySpace is proving to be losing some of the popularity it once held as its competitors attract more users, one sector commentator has claimed, in news which businesses may wish to keep in mind for their social media marketing campaigns.

Neil Stapley, founder of Daddoda.com, says that it is Facebook which is now the social network "of choice" and that the effects of this site and other competitors entering MySpace's sector may have been underestimated.

However, he adds: "The scope for new products for new market segments is immense and this could be an opportunity for MySpace as much as it is a threat."

His comments come after it was widely reported that chief executive officer of News Corporation Rupert Murdoch had admitted that the alliance between MySpace and Google was going to fall far short of producing the $900 million (£541 million) expected of it.

Google had guaranteed to pay News Corp $900 million over three years in order to place adverts against search queries on MySpace, but the latter's traffic has fallen below that originally promised.

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