MySpace: Great Expectations?
Today, everyone is talking about how MySpace is not all it’s been cracked out to be. Rupert Murdoch appears to have just lowered the social-networking site’s revenue forecast for next year. It looks like advertisers aren’t lining up as fast as News Corp. had hoped. I wonder what’s going on: It seems a little premature to start lowering 2008 forecasts. Could it be that Mr. Murdoch is sensing a weakness in online advertising in general? That would be bad news not just for MySpace, but for all online properties.