Eddie Goldman is the host and producer of the No Holds Barred international podcast, the publisher of the No Holds Barred blog, and a senior contributing editor at the ADCC News.

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Thursday, May 06, 2010

MySpace Posts $150M Loss; Murdoch Cites "Big Mistakes" 

MySpace is falling deeper into the red, and not because it was recently May Day. Numerous news reports quote the latest loss being US$150 million for the first quarter of 2010 (the third quarter of their fiscal year).

On a conference call with investors, News Corporation chairman and CEO Rupert Murdoch mentioned unspecified "big mistakes", presumably with the purchase and management of MySpace, but offered only vague assurances about "new features" being introduced, mainly involving music.

One of these news article, with other links, is at http://www.dmwmedia.com/news/2010/05/05/myspace-unit-posts-150m-loss-murdoch-cites-quotbig-mistakesquot.

So what would you like MySpace to do to reverse its seemingly endless loss of real people using it? New features? Repairing all the existing broken features, like group page templates?

With the new, onerous (anti)privacy settings on Facebook, MySpace has a golden opportunity to rebound. But can a bunch of corporate suits make the right decisions about a social network?

Note: After posting this to my MySpace blog, my antivirus program blocked a virus from one of the ads on MySpace. Perhaps that is a sign it is doomed.

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