A Profile of MySpace
MySpace’s story is one of the most tumultuous in Social Media history. Born as an upstart, brainchild of a few hackers and spammers, This site was originally just an experiment, one of the many projects eUniverse employees were working on. But once the site started taking off, it took on a life of its own.
Once Friendster started experiencing technical difficulties, MySpace overtook it as the #1 social media site – Then the #1 website on the internet for a time. But its cluttered interface, technical issues and recurring spam problem became its downfall, with Facebook now the crowned champion.
At its peak, it was generating over $800 million a year in revenue. From #1, MySpace is now ranked as the 161st website on the web. It was sold to Justin Timberlake and Specific Media Group for 35 million in 2011.
Though no longer the general social media giant it used to be, It is still a strong player in the music industry.
Traffic & Statistics
According to ComScore data from February 2011, MySpace gets an estimated 37.7 million visitors a month. According to Quantcast, MySpace gets an estimated 12.7 million users per month in the United States, according to August 2012 data.
From Alexa statistics, we can see that the site is estimated to get less than 1% of global Internet users’ attention.
The largest demographic on MySpace is the 18 to 20 demographic, which has 27.2% of the site’s male users and 19% of its female users. The second largest demographic is the 14 to 17 demographic, followed by the 21 to 24 demographic.
MySpace tends to attract a much younger audience. Usage rate drops sharply after 29. (Source)
Should You be on MySpace?
If you’re in the music industry, you should absolutely be on this site. If you’re targeting a younger demographic, between 14 and 29, you should probably be on MySpace. Multimedia centric companies can do very well on MySpace, including interview companies, podcasts, video shows, musicians and party or event related business.
The website is self-serve ad platform opens a host of possibilities for advertisers. Even if using MySpace as a social network isn’t appealing, if you have a product catered to a younger or a musically oriented audience, you might consider using site’s self-serve advertising platform.
MySpace Pros and Cons
- Pro: If you’re targeting a young audience or a music audience, MySpace has laser targeted traffic that’s catered specifically for you.
- Con: As a generic social network, It is relatively weak. Don’t use it as part of a general marketing plan unless it really matches your demographic.
- Pro: An extremely robust, easy to use self-serve advertising platform.
- Con: The younger demographic is less likely to have money or to spend money. A lot of advertisers have a hard time monetizing MySpace traffic.
- Pro: It’s more customizable than Facebook or Twitter. MySpace lets you really express your creativity.
- Con: You don’t know when the site’s focus or business plan will change or pivot. MySpace’s owners are constantly trying to change things to see what sticks, so it’s possible that a valid business plan today could be come ineffective tomorrow.
Tips for Success on MySpace
Pick up a tutorial or two on MySpace design. Learn your way around the codes. Then use one of the many site’s code generator tools to design your page. Make sure you also learn the site rules, so you can keep your images and your designs within bounds. Make your pages too wide and you’re in for a heap of trouble.
Make sure your MySpace profile photo, your foreground and background all work together seamlessly. Your page should not seem to “clash.”
Put your MySpace address on your website, on your flyers and on the rest of your marketing materials. If you have the budget, use MySpace advertising to bring more people to your page. MySpace’s ad platform lets you target specifically the kinds of people who might be interested in what you have to offer.
And that is Myspace.