MySpace “In Freefall” as Marketshare Drops More Than 35% in Last Year


By Joe Ciarallo Comment


Internet monitoring company Hitwise released new data on the top social networks last week. As suspected, Facebook and Twitter experienced growth. In Facebook’s case, the network grew 190% over last year and now claims 58.6% market share in terms of total visitors to social networking sites.

Myspace on the other hand is “in freefall,” says CNET’s Greg Sandoval, citing a big drop in market share, from 66.8% to 30% over the last year.

Given this, the social networking site’s agency of record – Weber Shandwick – certainly faces challenges. We reached out to both the agency and MySpace internal PR, who have not responded as of the time of this post.