You and I think of MySpace and Facebook as the place we keep in contact with people. But behind the scenes, make no mistake, these are business enterprises. Will Facebook put MySpace out of business? They may be catching up, but they’ve got a long ways to go.
MySpace has a unique audience of 61 million; Facebook 19.5 million. Each visitor spent nearly 3 hours on MySpace, but only barely an hour on Facebook.
MySpace was purchased 2 years ago by News Corp for $280 million, and this year will likely earn $800 million in this fiscal year’s advertising revenue. They earn $1.50 per 1000 page hits.
Now that’s business.