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NEW YORK MySpace generates close to $25 million in monthly advertising revenue and is growing by nearly 30 percent each quarter, said News Corp. chairman and CEO Rupert Murdoch.
Murdoch, speaking here today during a keynote interview at the McGraw-Hill Digital Media Summit, said that revenue from News Corp. Web properties was approaching $1 billion, and that in five years digital media should account for roughly 10 percent of the company’s revenue. MySpace and other Fox Interactive Media properties, as well as Web sites for the company’s newspapers and TV stations, will drive that growth, he said.
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