Today's Hard|Forum Post
Today's Hard|Forum Post

Monday November 19, 2012

New MySpace Losing More Money Than Old MySpace

Brace yourself, this is going to come as a shock...MySpace still sucks. Even with celebrity investors, the site lost more than $40M this year (on what we'll never know).

Since December 2011, MySpace traffic is up 36 percent. But MySpace continues to flounder commercially. Documents show that it will generate revenues of just $15 million this year, up from a miserable $9 million in 2011. MySpace lost more than $40 million in 2012. Interactive Media expects it to lose another $25 million next year.