With the ongoing Social Media war, you may be familiar with the growth of Twitter and Facebook but what happened to MySpace’s prominence? Well, because of the growth of Twitter and Facebook, MySpace has lost a lot of its popularity…and profit. For that reason and the loss of advertisers due to the recession, MySpace laid off 30% of its workforce on Monday. While this may not affect your current marketing efforts, if you are considering utilizing social media in any campaigns, this move is indicative of where the growth in social media really is AKA Twitter and Facebook. It’s possible with the change that MySpace may strengthen its position or target new niches but that’s yet to be determined. We’re going to take a wait and see approach but definitely something to keep an eye on.
For more on the story, check out Tech Crunch.