Media and Money

Posts Tagged ‘MySpace

According to Nielsen, Myspace.com is moving to become an “entertainment portal,” with the growth to Myspace Music. Since the site’s launch in September 2008, unique visitors to the music.myspace.com subdomain have increased 190 percent — growing from 4.2 million unique visitors to 12.1 million in June 2009. Year-over-year traffic to the URL has increased 1,017 percent.

When comparing unique visitors of the music.myspace.com subdomain to other sites within the music category in June, it ranked third behind AOL Music and Yahoo! Music and ahead of popular music sites like MTV Networks Music and Pandora.com.

Once again, Twitter.com is the fastest growing site, increasing 1,928 percent year-over-year, from 1 million unique visitors in June 2008 to 21 million unique visitors in June 2009–making Twitter the fourth most visited member communities site in June. Facebook continued to lead as the No. 1 U.S. social networking site for the sixth month in a row, with 87.3 million unique visitors in June 2009.

facebook_picFacebook Inc. employees can sell their stock for $14.77 a share under an agreement with Digital Sky Technologies, giving them a chance to capitalize on the company’s growth without an initial public offering, Bloomberg reports.

The Russian investment firm will buy as much as $100 million of Facebook common stock from current and former employees, according to Jennifer Gill, an outside spokeswoman for the investor. Digital Sky announced a separate $200 million investment in Facebook’s preferred shares in May, valuing the company at $10 billion.

The deal values the company’s total common stock at $6.5 billion, because those shares are less valuable than preferred stock. Employees typically hold common shares, which have fewer privileges and financial guaranties.

Facebook vaulted past MySpace last year to become the world’s largest social-networking company, helping it attract advertisers during the worst ad slump since the dot-com bust in 2000. Marc Andreessen, who sits on Facebook’s board, said the company should post at least $500 million in revenue this year.
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eMarketer projects that US marketers will increase their social network ad spending 13.2% in 2010, to $1.3 billion.

AD Spending Revenue

“The expected rebound in spending will come as more companies focus on creating and implementing an overall social marketing strategy,” says Debra Aho Williamson, eMarketer senior analyst and author of the new report, Social Network Ad Spending: A Brighter Outlook Next Year. “And it is a clear indication that the experimental phase of social network marketing is finally drawing to an end.”

2009 is turning into a year of major shifts in the social network business.
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According to Reuters, Facebook will likely be posting billions of dollars in revenue in five years, up from about $500 million this year, according to Silicon Valley entrepreneur Mark Andreessen who sits on Facebook’s board.

Andreessen told Reuters that the world’s most popular online social network could pile up $1 billion in revenue this year if it pushed harder on selling advertising.

But he added that it was more important at this stage for social sites like Facebook and Twitter to retain and grow their user base and capture market share, rather than worry too much about making lots of money right away.
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