MySpace Monthly Ad Rev. Nears $25M
MySpace currently brings in $25 million a month, and is growing at a rate of 30% each quarter, according to Rupert Murdoch.
Murdoch dismissed criticism that the MySpace audience was aging, giving an advantage to rivals such as college social networking site Facebook. "A lot of young people--college kids, undoubtedly--are going to Facebook. But that doesn't mean they don't stay with MySpace," he said.
Market research firm eMarketer predicted in a report last November that MySpace alone would have $525 million in ad revenue in 2007. The firm's projection that Internet ad spending will reach 8.1% of overall media ad dollars in 2008 also roughly coincides with Murdoch's estimate that News Corp.'s digital sales will account for about 10% in five years.
4 votes
