NYTimesâ€™ recent post about MySpace has caught my attention. Weâ€™ve all heard about MySpace a gazillion times, Iâ€™m quite sure of that, and heard a few things about it, but this article apart from that discusses a few other things which stand out to me. First, Ruper Murdoch, and second, his cunning business ideas.Iâ€™ll say it now, if you havenâ€™t read the article â€” go read it, itâ€™s a good insider to MySpaceâ€™s past and importantly itâ€™s future. But as you can see on your right, this image left me startled once I saw it. Not the March last year, this year comparison, but the very fact that MySpace is the second most viewed site in the world, not far away at all from Yahoo!.
Iâ€™m not sure how this came to be, but from a little common sense I know Murdoch, and his company Fox/Newscorp had a big big hand in it. Basically, what partly-grey haired big chairmans and CEOs of big big companies donâ€™t get, Murdoch, the 75 year old genius, thrives on. He knows where todayâ€™s youth is and what they want. Without this graphic on the right side to help him, as heâ€™s said in the past and Iâ€™m sure youâ€™ve heard him say it, he knows the youth of today know where theyâ€™re going, and they donâ€™t need Google to help them.
But what I find interesting is that even though MySpace has the audience, and they have the page views, as the NYT article points out â€” theyâ€™re not making as much money as they could be (letâ€™s face it, MSN/eBay/Time Warner who get much less page views than it make more). In the end, I guess itâ€™s all about the money with these people â€” page views is good when you have it, but one would rather have more money than more page views.
While some may think this is a bad thing for them, I think this is a great opportunity right here. The reason I say this is because while other companies make their money roughly the same way as each other, and their page views are no reflection on their money, MySpace has a big advantage. If done rightly so, they could go on to make much more than these average Internet leaders and be a major contender to Newscorp/Fox (which is really what Murdochâ€™s goal is), but on the other hand, if they muck up, they lose their billion dollar chance.
Why all this interests me and Iâ€™ve bothered to write this article is because I wanted to point out â€” hey, look who weâ€™re talking about here, a (what could be known as) very Web 2.0 company in â€˜the long tail,â€™ with a major main-stream audience, looking to make billions. Itâ€™s like theyâ€™ve crossed the line, and while an year ago maybe they would be known as a Web 2.0 company (with the whole social thing and all), now who bothers to notice that their roots points to this very 2.0 space. Now, they arenâ€™t 2.0 because of the social thing, but merely because theyâ€™ll soon be making money in a very 2.0 fashion.