Myspace has lost 14.4% of its user-base in one month from January to February 2011 according to comScore statistics. MySpace has plummeted from 73 million visitors to 63 million visitors.
Earlier this year, MySpace had announced nearly halving its workforce leaving 500 people without a job. News Corp. purchased MySpace for $580 million in 2005 near the height of MySpace’s popularity which enjoyed a nearly 200% increase in views from 2005 to 2006.
Facebook overtook its social networking competitor, Myspace, as early as April 2008 according to comScore statistics and MySpace seems to be unable to regain its winning formula (and users).More than 50% of internet users in the United States of America aged over 12 years old are connected on Facebook, according to Edison Research in a 2,020 persons survey.