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MySpace is doing well despite Facebook

In spite of all the recent fuzz about Facebook, the indisputable No. 1 social networking site MySpace still has potential.

“The latest audience data show that it continues to expand faster than most top competitors except for Facebook, in a sign that there is more upside for the social networking heavyweight. News Corp. brass and Wall Street folks said MySpace has managed to boost its advertising rates and thereby profitability, making it less dependent on big future audience growth.”

MySpace’s unique audience in July was 61.3 million, (up 33 per cent year-over-year), three times larger than Facebook’s 19.5 million (up 129 per cent).

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