Sunday, November 08, 2009

MySpace: In the money to in the doldrums to in trouble

News International announced pretty good profit figures this week, based mainly on the take from the Ice Age cartoon. To be fair, the company relying on making money out of dinosaurs is nothing new, and it's attempts to evolve are so far generating more duck-billed platypuses than leopards.

The latest rumblings from MySpace aren't encouraging: as traffic to the site falls, the money flowing back from Google is scaling down in proportion. Indeed, the public's diminishing affection for broken page layouts and clashing backgrounds is going to cost NI $100million, reports Hypebot:

We’re still losing traffic,” admitted Chase Carey, chief operating officer of News Corp. “It’s a business in transition.”

Ah, now there's a euphemism. "I'm terribly sorry, Mrs. Smith, your husband is in transition. Indeed, he might not still be transitioning by the end of the night."

MySpace is throwing its hopes on music as its rescue pod. But it's not entirely clear that there's much music-related stuff they can add that they don't already have.