Jul 11 2006

MySpace Reaches #1 Most Poular Site in US

Posted by cheyennejack at 7:51 PM
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- Categories: Social Media

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According to traffic stats generated by Hitwise, for the week ending in July 8, 2006 MySpace surpassed Yahoo! Mail as the number one most hit site with a market share of 4.46%. A recent study I read few weeks ago reported this social networking phenom as receiving 11,000 pageviews/second!!

To put this in perspective, 2 years ago, MySpace only garnered 0.1% of the market. People thought NewsCorp (better known as Fox) was crazy to buy this website for $580 million last July when it still was only garnering about 1.9% of the market.

The monetization of this massive user base is still being worked on, but I kind of associate MySpace to a coral reef. Sure its alive, but it also is providing this mass eco-system around it, from sites for "pimping" your space, to clubs and bands using it as an advertising tool, right down to marketers being able to help target prime audiences to buy their product.

I find the idea of using MySpace to distribute Fox television content, like the popular television show "24", incredibly unique and perhaps a thorn in the other broadcasters side, wondering who they can acquire. Facebook? Maybe? Thier asking price is up to $2 billion dollars they say and they only capture 8% of the social networking traffic compared to MySpace's 80%.  Bebo another popular social networking site with around 25 million users, reportedly just turned down a $500+ million deal as well.

At a recent Atlanta Interactive Marketing Association meeting held at Georgia Tech, a speaker said that within two years we shouldn't see any ads that are not of particular interest to us, because of the vast amount information being assembled about us out there.

MySpace is definitely inline to gather plenty of this information, but I wonder who else will step up to the plate? Who will be able to gather this data on older generations? At least they still appear to be much more concerned about their private lives than their younger counterparts.

I myself, kind of like the idea of not having to get one more piece of spammed advertisement tossed my way via the mail, email or next to the article I'm reading. However, pertinent information delivered this way, may be quite welcomed, if it helps save me time in the long run.

Is your time more valuable than your privacy?

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