Facebook vs Myspace

Facebook is a fast growing social networking site that has its competitor, Myspace, sweating bullets. Myspace has been sitting comfortably on top of the world for years, when it comes to social networking. The other day News Corp.’s Myspace CEO Rupert Murdoch spoke out about Facebook’s recent success, “They’ve not monetized as well as us. They’ve done a great job of being the flavor of the month the last six months of last year.” “Flavor of the month?” In the past year, Facebook has grown a steady 89% with no sign of slowing down while Myspace has grown less than 10%. Myspace does acknowledge that Facebook is a credible competitor so Myspace has been making changes to their site. This week, they revamped their homepage with new advertising options and there will be more improvements to come.

Even though Myspace has more than double the amount of Facebook users, I think the changes that Myspace is making may be a little too late. Facebook took advantage of this slack and is on the fast train of being ahead. If Myspace wants to stay in their cozy number one spot, they will have to stay one step ahead of their competitor. I predict that Facebook will become the number one social networking site one day, soon. It seems that Facebook is making moves to be on top while Myspace is slow to do so. Time will tell!