No one could say that dot com wasn't back when News Corp purchased Myspace for $580m. Now it has just signed a $900m contract with Google to allow them to provide paid search listings on the website. Myspace says that its going to be used for paying back the purchase. What a deal! Thats good dot com business.
Myspace just launched the Australian version of the website http://au.myspace.com. Myspace successfully launched in the UK in June and now here comes Australia!
I like it, I think Myspace has legs in the music business. It still reaks of dot com to me but time will tell. Revenue is revenue, and with 17million overseas signup per month how can you deny that kind of traffic. I am just waiting for the traffic to plateau out and see what the end residual audience of the website is. I think we are seeing big signups because everyone is working out what is going on and everyone is buying yo-yo's. I think the novelty of the Myspace Yo-Yo will die down soon and we will see it for what it really is. I dont think all the people who are signing up now and are dedicating huge amounts of time managing and maintaining their myspace will continue forever.
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