The MySpace death spiral

The MySpace death spiral

Last month, Rupert Murdoch put the ailing MySpace on the auction block, something I blogged about here.

At the time, I said Murdoch was going to lose a fortune, that he would get nowhere near the $580 million he paid for it.

And now, we have evidence that he is going to be taken to the cleaners. It's even worse than we first thought. MySpace is dead, and how do you sell something that's dead?

TechCrunch reports that the decline of MySpace is accelerating. Visits to the site went down a staggering 14.4%, from 73 million visitors to 63 million visitors. That's about half of the audience MySpace had a year ago. In other words, MySpace lost 10 million users in a month. People couldn't get away from it fast enough.

MySpace, once a leader of the Internet, now looks like becoming a small footnote, an addendum to the history of the Web. Would the last person leaving please turn off the lights?


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