Social networking is big business in the internet economy. Two of the largest players in the U.S. and global social networking world are MySpace and Facebook. Facebook was once the new kid on the block up against the established MySpace, but that had now drastically changed.
According to the most recent data from ComScore, Facebook is now quickly outpacing MySpace in the number of users. Adage reports that in June of 2008 the two social networking sites were the same size in terms of unique users.
Facebook now claims 200 million unique users to MySpace's 100 million according to Adage. The glut of the growth Facebook has experienced comes from countries other than America. MySpace is quick to point out that while Facebook has outpaced it in unique visitors, it still sells more ads.
MySpace issued a statement saying, "We are laser focused on building a sustainable global business which we measure by profits and revenue -- not just eyeballs. In a tough economic climate, our international revenue is up 30% year over year and we continue to focus on those markets with the strong monetization opportunities. Additionally, MySpace continues to dominate the U.S. market -- where the bulk of online advertising revenues reside -- both in terms of monetization and user engagement with more than 76 million unique users and a 40% spike in engagement year over year."
Adage also notes that if you take the latest ComScore data showing about a billion global Internet users, the 200 million users of Facebook equates to about one in every five Internet users visiting the site. Last year Facebook was looking for a new home after growing so much its facility was too small.
quote: MySpace is quick to point out that while Facebook has outpaced it in unique visitors, it still sells more ads.
quote: if I want to keep in contact with my friends i'll do the old fashioned thing and get off my backside and go see them in the flesh
quote: I have friends all over the world
quote: Much easier to post in one location then to visit or 100 people in a month just to tell them I got engaged
quote: I don't consider virtual friends as friends, until I meet them, can look them in the eye and know their true intentions then they are a total stranger. Again you probably have a different view and you are welcome to it.
quote: MySpace just seems like it's crowded with kids.
quote: As it stands, I now get more (personal) messages via Facebook than e-mail or text messages combined!
quote: This either speaks volumes about how little texting and emailing you do, or how rediculously large your facebook list is.