It was only a few weeks ago that MySpace was claiming to have passed Yahoo as the most popular site on the internet. Now it’s being reported that YouTube has passed MySpace. MySpace’s reign at the top lasted about three weeks. I’m guessing that’s not what Rupert Murdoch paid over $580 million for.
Has MySpace peaked? Probably yes. There have been plenty of reports indicating that MySpace’s target demographic no longer finds the site to be cool. Part of the problem is that dozens of new social networking sites seem to pop up every week. MySpace has lots of competition and no longer seems cutting edge to a generation of kids who live online and spend a good deal of their time looking for the next great thing. You only have to look back to the rise and fall of Friendster to realize just how bad things might get for MySpace.