Over the past few months’ things have been going from bad to worse for MySpace — the once dominant force in social networking. There is a planned revamp of the website in the UK this month, but this has still not stopped owners, News Corp from putting MySpace on notice.
The reason for the urgency to improve things is due to the $156 million loss for News Corp for their digital and other activities side of the business. This is certainly a sad time for MySpace, which once was a popular destination for millions of people around the world.
The biggest issue for MySpace was due to the fact that users were jumping ship and making the move to Facebook, which had many more features to offer. The troubling thing is, even with all the news of the revamp, things are still going south.
According to an article on cmumusicnews, New Corp investors are not happy that MySpace is a huge issue; the social networking website has been told that they need to get things back on track, or they will pull the plug.
What are your thoughts if MySpace is shut down?