Support NeoGAF

[andycapps]

That's crazy. I remember some blub on CNBC talking a few years ago about how little revenue Newscorp was getting from M_. Guess not.

I guess it would just depend on what their operating costs were. If they were making near that much profit a year, I doubt that they would have been sold for $35 million.

 

[numble]

someone's reading comprehension is bad. Newscorp bought for $580, then Made about $400million a year in ad revenue for 5 years.

still a horrible investment?

How much were expenses?
Revenue is not the whole story.

 

[Manmademan]

I guess it would just depend on what their operating costs were. If they were making near that much profit a year, I doubt that they would have been sold for $35 million.

well, that's the thing. there was a deal with google that was responsible for the vast majority of that, and that deal is gone. finis. off the table.

It's projected to bring in $100 million or so this year, but that number's only going down- competition is only getting tougher.

Future projections have myspace making less and less money year over year from here on. $35 million is probably TOO generous for it, I think.

How much were expenses?
Revenue is not the whole story.

again, this is true but it's unlikely we'll ever find out.

 

[ReturnOfTheRAT]

Someone threw $35 mil down the drain.

 

[Mengetsu]

Took long enough. I used to use it years ago then i couldn't take the fact it started changing more and more into facebook so I left and joined facebook along with most of my friends. It's sad to see what it is now.

 

[Liu Kang Baking A Pie]

What's with the Facebook predictions? It's not based on anything other than Myspace. Facebook is fine as long as they continue to make smart decisions and innovate.

Sites don't die just because.

 

[dubc35]

How's Friendster doing nowadays?

Every once in a while I drive by Classmates.com's building and each time I'm surprised it's still there.

 

[chubigans]

So uh, apparently Justin Timberlake has a stake in owning Myspace.

Seriously.

http://www.deadline.com/2011/06/news-corp-sells-myspace-for-30m-40m/

UPDATE: 3:16 PM: The official release from new MySpace owner Specific Media had an interesting bit of news in it: Justin Timberlake will take an ownership stake in the social-media site "and play a major role in developing the creative direction and strategy for the company moving forward." It's unknown how much he is investing in the deal, in which seller News Corp receives a minority equity stake in Specific, but it makes sense in that MySpace had become a de facto music promotions site since being essentially left in the dust by Facebook. Specific Media and Timberlake say they plan to evolve Myspace into the premiere digital destination for original shows, video content and music. "There’s a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect. MySpace has the potential to be that place,” Timberlake says in the release. “Art is inspired by people and vice versa, so there’s a natural social component to entertainment. I’m excited to help revitalize Myspace by using its social media platform to bring artists and fans together in one community."

 

[Dr. Kitty Muffins]

I hope it is renamed, and recoded.

 

[DSN2K]

I believe Facebook is like 10x the beast Myspace ever was...so the comparisons really arent that accurate at all, I doubt they will share the same outcome either.

 

[Strike]

...and not a single fuck was given that day.

 

[Firestorm]

MySpace topic gets Facebook comparisons by ignorant armchair analysts. What else is new.