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.