W3C home > Mailing lists > Public > public-xg-socialweb@w3.org > August 2009

MySpace Helps News Corp Lose $363 Million

From: Melvin Carvalho <melvincarvalho@gmail.com>
Date: Thu, 6 Aug 2009 02:32:06 +0200
Message-ID: <9178f78c0908051732r2e9f7f41h82f5dcb7d9307496@mail.gmail.com>
To: public-xg-socialweb@w3.org
News Corp., which owns FOX, The New York Post, the Wall Street
Journal, and other media outlets, hasnít been doing so well in the
last year. The companyís net income was $5.4 billion in the 2008
fiscal year, but the numbers they released this afternoon for 2009
show the company heading in the complete opposite direction: a loss of
about $3.4 billion.

News Corp specifically blames MySpace for a loss of $363 million to
the companyís bottom line.

http://mashable.com/2009/08/05/myspace-news-corp-losses/

IMHO, these really is the strongest possible incentive to get your
social web strategy right (hopefully the SWXG final report can
contribute to this!).

Perhaps it's not simply that the social web can make the companies
that get it right, but maybe it can break the ones that get it wrong?
Received on Thursday, 6 August 2009 00:32:49 UTC

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