MySpace ad revenue dips
ADOTAS — As Facebook adapts quickly and continues to grow, MySpace scrambles to keep up.
What MySpace has over Facebook though is revenue. Last year, MySpace posted revenue of about $600 million, albeit less than the $1 billion target expected. But the revenue might not hit targets this year either.
Besides losing COO Amit Kapur and senior vice presidents, Jim Benedetto and Steve Pearman, the company says that ad sales dipped in January and February. Though an executive says that March is showing improvements.
Fortune says MySpace needs to hold on to the entrepreneurs who will help it come up with cool innovations and products that keep users coming back and the discipline that tech veterans can bring. But that’s the problem.
The guys who create want to keep creating, just in their own way and time. Though News Corp, which owns MySpace, has Slingshot Labs to create startups, the innovators are leaving.
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