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What Do High Growth Businesses Do Differently?

Over the past 5 years the importance of the “High Growth Business” and how this relatively small group of businesses disproportionally impa...

Monday, 16 February 2009

Latest Social Network Rankings – Worrying Times for MySpace

Compete.com has just released its traffic survey on social networking sites. The biggest climber by far is Twitter shooting up from 22nd in 2008 to 3rd in 2009. Interestingly the biggest looser is Bebo.com dropping 9 places to 14th.

Myspace continues to exhibit a decline having hit a peak in 2007 and fallen 1% in 2008 and a further 13% in 2009. This must be a worrying trend for its owners and suggests, despite its obvious popularity, that it is somehow not meeting the needs of the new internet generation. It may be that it is a victim of its own success and that it has never quite managed to capture the imagination of users outside of the US. This is supported the fact that Facebooks' growth is now almost exclusively driven by users outside the US and its US subscriber numbers has also stagnated. Perhaps more worryingly for MySpace, is its drop in marketshare as a percentage of the top 25 social networking sites from 61% in 2007 to 33% in 2008, which perfectly illustrates that it hasn't enjoyed any of the 61% growth in traffic for the top 25 as a whole.

It clear that MySpace is in a difficult position, and if it doesn't to something soon it will find its position further eroded as other sites enjoy continued growth at its expense.

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