The flash and the cash
Many of us remember the line from the scene in the 1996 film, Jerry Maguire, where the sports agent played by Tom Cruise reacts to a team owner’s request to have Maguire’s client, Ron Tidwell, play for his team.
“Show me the money!” is Maguire’s loud and oft-repeated response.
As popular as it is as a social networking site, Facebook still has to find a way to translate tens of millions of users into hundreds of millions of dollars.
New mantra?
The same mantra may be coming soon for venture capitalists providing resources for the flashy and mercurial world of online social networks. Several of these sites — most notably Facebook and Twitter — are generating tons of interest among users, but the question remains: Where is the money they are expected to rake in?
In our current era (read month because things are changing so fast), even the social media continue to change and evolve. In the process, a shakeout may be looming: a survival of the fittest scenario.
For example, MySpace was founded seven years ago — a virtual eternity in the world of Web 2.0 media. By 2006, it had become the most popular social networking site in the United States, only to be overtaken in 2008 by Facebook, which had only been in business since 2004.
Confusing, no?
Today (and I mean that literally), MySpace has lost even more ground as a social networking site, and last summer had to lay off almost a third of its staff, according to Time Magazine.
A drop in popularity
Stephanie Cano, one of my bright college students who represents the age group in the epicenter of the social networking movement, noted recently that MySpace has turned “from trendy to empty.”
More specifically, she wrote in the campus newspaper, The Clause: “It was just five years ago when MySpace was the place for friends and networking. Now it has become as isolated as the Cougar Walk during the weekend. There is an undeniable feeling of abandonment and reminiscence upon logging into the once hottest place on the Web.”
Cano echoes feelings of her peers that MySpace has been deluged and overtaken by too many ads and “annoying applications” that have detracted greatly from its original lure as a site featuring music, links, and pictures, posted by indivdiual users.
Some young people say music uploads by local bands trying to become national bands is one thing helping MySpace. (AP Photo/MySpace)
Too much spam
Andrew Shortall, a senior journalism major from Los Angeles, said spam is way too prevalent on MySpace, and that part of that spam is made up of fake profiles that lure young people into conversations only to have them discover they are visiting a porn site or some other unexpected sales pitch.
“I really think MySpace has too much junk on it, and is probably used more by high schoolers. I think Facebook is seen more as a college- and professional-level social networking site,” he said.
Laura Jane Kenny, another college senior from Southern California, says MySpace is still a better site for indivdiuals to upload music because Facebook is set up for short-burst messages.
Users aren’t enough
It is ironic that MySpace, which boasts 100 million unique visitors now is experiencing hard times. But the reality is that those kinds of numbers don’t automatically translate into revenue for a site that is finding it tough to interest users in ads, which those same users find annoying anyway.
Bryant Urstadt, writing a technology piece for ABC News, noted in 2008 that most social networking sites are “giving their product away, expecting that the communities built around it will generate ad revenues. It’s a model that stirs memories of the first Internet bubble: build the user base and hope the money comes, from an IPO, a buyout, or ads.”
In 2007, Microsoft purchased a 1.6 percent stake in Facebook for $240 million and valued the company at $15 billion, a value debated by many, Urstadt wrote, inasmuch as Facebook was probably going to lose $150 million that year.
The networking sites have been setting their ad rates low, but even those haven’t been enough to attract media buyers and big advertisers to social networks. One ad agency executive, Anthony Acquisti, told Urstadt, “A lot of advertisers are very hesitant to get into MySpace. We’ve even flat-out told intereste brands, ‘You don’t want to be there.’”
The APC’s of trouble
Why? Three main problems, not just with MySpace but with other social network sites like Facebook: Attention, Privacy, and Content.
Audience members of sites like Twitter and Facebook are jumpy and not very engaged with the content. They talk, but they don’t listen that much. And, even more problematic, they aren’t paying attention to the ads — and there are a lot of them on MySpace. As Andrew Shortall notes, they come at you in irritating, flashing style, and tend to turn users off.
In terms of content, Facebook and Twitter users don’t come in search of content and aren’t too interested in it. They go to Google and other search engines for that, which is why those sites — especially Google — are making more money. If you engage with the content, you will probably notice the ads, especially if you have to sit through a commercial before you can see the content. Happens all the time on sites like YouTube.
The privacy issue concerns the fact that social networking sites don’t
Computer security expert Chris Boyd sniffed out a worm for Google's social networking site, Okrut, in 2006. Such fake profiles are a problem for sites. (AP Photo/Dave Thompson)
have the exposure that advertisers would like. There may be tens of millions of unique visitors, but they aren’t all seeing the same thing on a Facebook site, for example. Not by the longest shot. The reason, of course, is that individual users can put filters on their sites, limiting exposure to just their designated friends.
Targeting may help
Many are banking on the concept that better targeting of advertising might hold the answer for generating revenue on social networking sites. As Urstadt notes, “Startups that help advertisers and marketers better target the users of social networking sites are fashionable investments for venture capitalists. Such startups hope to selladvertisers detailed information about individual social networkers.”
Some say the targeting answer lies in getting “between” friends on the social network sites.
Advertising analyst Seth Goldstein puts it this way: You come to a social network because you are interested in your friends; ergo, the thinking goes, in order to get your attention, advertisers need to let you know what your friends are buying or thinking about buying, or they must somehow get you to send each other ads.
If these challenges can be met and conquered by advertisers, social network sites will continue to mushroom. If not, we could be looking at a new dot.com bubble bursting.
Thank you for joining our conversation on A Virtual Unknown. We encourage your discussion but ask that you stay within the bounds of our commenting and posting policy.
Comments
I used to have a myspace but after high school I deleted it because everyone was switching to Facebook. I still have a Facebook today but I only log on once every 2 months or so, I am currently thinking of deleting it due to my inactivity. I find Facebook to be a disturbance to school and real life. I think that my true friends are the ones that I hangout with, not the ones I talk to on Facebook. As far as advertisements go, I find them annoying and I do not look at them in interest whatsoever. I think these advertisements need to be presented in a way that show you you need their product. Or show cool things that make you want to share them with your friends, just like the article said. I am a senior graduating in May and I think that my future employer would maybe look at my facebook profile before hiring me, I want to make sure I look like a professional and I dont think a social networking site will make me look professional.
In Jr. High, if you didnt have a Myspace you were not cool. My parents didnt want me have one but I did anyways. I remember our computer was acting strange, running slow and always had pop-ups. It was so annoying. When they found out I had a Myspace, they blamed the troubles we were having on the social networking site. Sure enough the computer store blamed it on Myspace as well. Myspace having tons of spam on it is not recent news. I havent had a Myspace since Jr. High and none of my friends kept theirs either. Facebook is defenitly easier to use, less stressful to deal with, and is not a “teeny-bopper” site (you cant add sparkles or butterflys to the background of your page.) Recently, I have noticed more adds on the side of the Facebook site, but not like Myspace had them. On Myspace they would pop up at you every 10 sec. and keep coming up at you until you got so frustrated with them. Basically, I am so glad that Facebook was invented.
Before reading this blog I had no idea that Facebook has been around since 2004. That really opened up my eyes to how early the social networking sites were birthed but also how late it seriously became popular. It’s really not a huge surprise to me that MySpace is losing a huge amount of members to Facebook, everyday. For one the program itself is old and slow. Also, Facebook has opened up greater avenues of resourcing and connecting with other people where as MySpace was basically a concentrated group of people you knew. I agree that there is too much “junk” on MySpace as well. It seemed like every day one of my friends had a hacked profile. I believe that it’s only a matter of time before Facebook turns into MySpace with its advertisements. Personally, I would leave Facebook if we had to pay for it because it’s not worth it. It’s only a matter of time and this blog has definitely got me thinking what new social networking site could possibly bloom just as Facebook and MySpace have.
That’s funny how MySpace just faded away into the air. I vivdly remember when I first opened an account, I was so excited to upload pictures and see everyone elses. I even had a birthday party once, and used MySpace to send out the invitations; over 200 people came! I was on there day and night, then bam, the next year, it was old news and so I opened a Facebook account at the recommendations of a few friends. I became addicted again because it was the new big thing. Now, I rarely log onto facebook anymore. I have contemplated a Twitter but decided against because I noticed that my obsession distracted from the more important things in life, rather than seing what everyone else is up too.
I definitely remember when I opened my myspace account. I heard some friends talking about it at school one day and after hearing it I waited till I got home and opened an account. I uploaded tons of pictures and found Myspace codes to create profile that would express myself to the fullest when friends would visit my site. But slowly the lure of Myspace faded when accounts consistently were being hacked. Then senior year I heard about Facebook and claimed it to be more superior than Myspace. Facebook still hasn’t lost it’s edge for me, but it’s only a matter of time when some new big thing catches everyone’s eye.
Although social media may not be the main focus in their ad campaigns, advertisers have become clever with their ads on Facebook. For example, you can now become a “fan” of certain products and promotions. This not only publicly commits your name to that product, but also sends that promotion to all of your friends on their news feed. Advertisers have somehow found the way to make us do the job for them while still thinking we are just passively enjoying social media.
The more months that pass by I feel like myspace loses its name more and more. I hardly login to my account and. Friends of mine never go on theirs either so there is really no point in logging in. Everything has became so cluttered and unorganized on myspace that when something as fresh as facebook comes along, it makes people think “wow, this does not even compare to myspace.” Although many of us continue to complain about myspace however, we still decide to keep our account just to say we have one. It will probably be only a matter of months until everyone begins to delete their myspace though. It really is becoming boring and old and when new and more popular sites like twitter and facebook are created, old sites like myspace are being forgotten and will most likely disappear.
I remember starting my myspace account back in my junior year of high school as it became more and more popular. I also vividly remember deleting my myspace account sophomore year of college, realizing I really had no need for it anymore. In high school and early college it seemed really cool to have this spot where you usually expressed your interests and showed off your personal style through your page background and profile picture. Yet, as I spent more time at college, the need to have a page that I focused so much energy on making look “cool” seemed really dumb. Facebook took my interest as it was just so much easier to use and find people. Plus it didn’t seem like it was nearly as self-involved or immature as myspace. Unfortunately, I feel like facebook is making steps towards becoming more and more like what myspace was, but at least it seems to have greater lasting power than myspace.
It is not hard to believe that Facebook beat out MySpace so quickly. When I used MySpace in high school it was a sort of love-hate relationship. I loved being able to socialize, exchange pictures, and listen to music all on one site. However, I HATED all the spam, random people trying to add me, and fake profiles. Facebook is so much more personal and mature. Facebook is the grown-up version of MySpace and it also attracts an older crowd, which I prefer. However, trends seem to come go; for example – the Furby, drive-in movie theaters, and etc. The next questions that need to be asked is why will Facebook die out and what site will replace Facebook? It is incomprehensible to imagine Facebook will be around in another 20 years or even 10.
I don’t know why I have not deleted my myspace. I think it may be because there are a few people who are still loyal to it that message me. Other than that, I really don’t care for it at all. It is true what the article says, there are way to many advertisements and flashy messages that pop up at you. I don’t like it’s child like lure, or the fact that Myspace is in constant flux, trying to mirror the Facebook interface. They used to be original, and the site that everyone was flocking to. That is far from reality now. I check my FB profile at least 2-3 times a day. I check my Myspace account 1-2 times a month. I am looking forward to the next social networking site that will claim the life of FB and Myspace. Just for the record though- I HATE TWITTER!
It is really interesting how most myspace users have migrated toward facebook. Facebook is definitely more popular, however, myspace has one feature that users might like still and that is music. If you want to hear a band, they will most likely have a music page on myspace where you can hear the music and see a list of their touring schedule. Obviously, people can find this sort of information elsewhere on the web, but if they were previous users of myspace before facebook, than they may go back to myspace for that purpose. I have always thought of getting rid of my myspace, and don’t check it often, only for the purpose of music now. Facebook started off being “college-aged” geared, so it was more mature than myspace. Myspace was full of a younger scene crowed. However, now that facebook always anyone to join kids and parents have facebooks, yet it still has a more mature feeling to it than myspace. And I have to disagree with Steven on his last comment there about Twitter. I use to hate it to before I got one. I thought it was stupid and pointless to know exactly what everyone does because all it is are status updates. Facebook has status updates too, but that is all Twitter is. So at first I though, how dumb. But then I found it can be a very convenient and fast way to receive information. I don’t often read the news, but since I follow cnn news and other news channels through twitter, I can see a quick headline and if I want to read it I can click on the link to the article. I think it is a great way to stay updated and connected with friends, and other companies that interest you personally, even celebrities. However it’s the younger crowd that leave tweets about every single detail of their lives every hour, is what gives it a bad rep. However, many people love it. It’s a love it or hate, but I feel like it may get more popular in the future.
Every time I hear the word MySpace it makes me giggle. It seems so foreign and a part of a world that seems so long ago. When in reality just four years ago my login date seemed to be everyday and my picture update was just as recent. But then it got creepy and spam seemed to overtake my inbox. Facebook is the new MySpace but not as annoying and advertisers seem to care about my interests and what I might like.
In my personal opinion I don’t think social media sites are worried about the cash because the cash is flowing in. It doesn’t matter if I order those cheesy shoes or shirts on the side of my page or not someone somewhere is getting their check. Advertisers are smart to be a part of the social network ball game but Facebook allows users to breathe and do as they want on their page.
This makes me question my comment made about last weeks blog and making fun of the man I can not seem to recall his name but maybe he is right…..Facebook might be just a trend. Myspace was the hottest social network at one time, now Facebook and at a rapid pace Twitter is soon taking over.
I have wondered how long it will take before Facebook meets the same end as MySpace. Although I believe Facebook still has a lot of staying power because of its flexibility with photos and video (amongst other things), several major changes in the site’s operations seem to irritate users every 8-12 months or so. Also, there is a steady trend of Facebook security and privacy questions that loom concerning ad profitability.
You may notice the irony of which ads pop up on your Facebook page when you log in. Personally, I get advertisements from the university I attended for my undergraduate degree. Coincidence? Nope. Facebook allows advertisers to ‘target’ users based on their areas of interest, location, and other information listed on your page. Is this an invasion of privacy or just crafty advertising? We have to realize that Facebook does need to turn a profit to survive.
Although I think Facebook has a much better chance of survival than MySpace because it allows so much more interactivity and feedback, I do wonder if other sites will take over portions of Facebook’s user base, thus decreasing profit potential.
LinkedIn has already started gobbling up professionals who want to network and connect with other people in their fields. As college students (the initial target user base for Facebook) graduate they begin to look for ways to connect with employers. Facebook has become a hindrance to many young job seekers as employers visit their pages to ensure there is no incriminating material there before they hire the candidate. LinkedIn, on the other hand, doesn’t leave a lot of space for idle chatter and unprofessional photos. Its purpose is to put the best face on professionals, while connecting them to other like-minded workers. I’m not saying LinkedIn will take the place of Facebook. However, with the tough economy, more and more people are trying new ways to land a job. That may mean less time on Facebook and more time on other professional sites.
Ahhh MySpace. Its funny to think of it terms of out of date. I do remember when MySpace was the cool thing to join and engage in. I never truly was in love with it :-/ Even when it began the set up of MySpace felt pitched and like an advertisement junkyard. When I was introduced to Facebook, I never looked back. Facebook had this since of exclusivity, before they let everyone and their mother’s on (literally), that as a college student I loved! But now I fear for Facebook. Its set up is becoming reminiscent of MySpace, with all the ads and people hacking into friends profiles sending you messages to try some new product.
In my opinion, Facebook has been “deluged and overtaken by too many ads and “annoying applications” that have detracted greatly from its original lure” of giving its user a exclusive site to network and keep up with your friends. Now Facebook has ads everywhere you go and there are sooo many applications that bombard you as soon as you sign it. Don’t get me wrong, I still enjoy Facebook but it makes me wonder where its heading… its looking like the next MySpace.
While I’m an avid fan and user of Facebook, I never did get into MySpace. It’s interesting to read about its meteoric rise and fall, within just a few years. One of the reasons suspected in its decline is the “clutter” found on the site, but as anyone who uses Facebook much knows, more and more clutter can be found there as well. Many Facebook users have left due to concerns about clutter, which includes games, too-frequent updates by friends, invitations for quizzes and games and applications, and the overriding concern that is related to all of these reasons — a lack of privacy. If Facebook isn’t careful, it could suffer the same fate as MySpace.
Also interesting is the economic model behind such sites as Facebook. Just how do these sites make money? The ad rates are cheap, yet these types of sites must employ many designers, programmers and others to keep the enterprise going. Users expect free use of such sites, so there isn’t any way that Facebook could charge users without losing a lot of them. And the ad rates aren’t likely to increase because of the reasons stated in the post — many people don’t look at the ads because they aren’t going there for content. While Facebook does essentially “stalk” you on the Internet and place advertisements on the page based on your interests (pretty creepy if you ask me), there is little data yet to indicate that these advertisements are effective. Looking at these factors, it kind of makes you wonder how long sites like Facebook can possibly stay around. As the newspaper industry is discovering, simply having a great-looking and well-used Website does not a viable business model make.
I have been on Facebook about one year. An old high school friend called me and said that I ‘had to get on it’ because so many of our friends were out there and it is so easy to keep in touch. He was right. I check my account every day, sometimes multiple times. I keep in touch with more people because I can do it all in between calls at work, or on my cell phone. I have even made new relationships.
I read some of the posts above and I can see that Facebook could fade off into the sunset if people don’t stay invested, but my group seems to be very invested in it. I’m not sure how advertisers will catch our attention, but I have had links posted from my friends that I found interesting. Just the other day, I posted Amy’s Naturals because I heard they had good products. Advertisers could hire us as individuals to place their ads out to our friends. They could pay us in coupons or some other small way. I believe that money could be made if the right concept comes about, but I also believe that if they try to charge for use, we will move on to another site.
I was a member of MySpace until about two years ago when I closed my account. It was as cool anymore, less people were using it and I really disliked all the ads that were splashed everywhere. I joined Facebook when you had to be a college student to join, and have used it since then. I like it more than MySpace because it seems a little more professional and like it was created to help people communicate with each other, not to see advertising. I have noticed ads on my homepage off to the right and wondered “Wow, it’s like the ads know about my personal interests.” I have learned that it’s not a coincidence. Facebook has rights to the information we share, and as long as they aren’t putting my address out there, it doesn’t bother me. I realize they need to make a living too. But the difference between MySpace advertising and Facebook advertising is that Facebook doesn’t seem to be as soliciting and I appreciate that. It’s out of my main page view, subtle and not flashy and trashy. The MySpace story is sad but hopefully it offered a lesson to be learned to other social networking sites, like Facebook. As long as Facebook stays professional and keeps its primary focus on providing users better and easier ways for people to communicate, I think the site will only grow.
With the seemingly unending privacy issues that Facebook has experienced, I find it surprising that the site continues to grow. It seems as though the local news is covering a story regarding Facebook privacy issues at least two to three times per month, however, we have yet to see a decline in its popularity.
As for those users who wish to avoid advertisements within the site, perhaps Facebook should look into offering a paid subscription for users wishing to connect in an ad free environment. This approach has been used by other communities online such as message boards.
Users are aware that if they log into a free site, they are subject the advertisements that pay for their membership. However, if they venture into a paid site, they are free of the sales pitches and privacy concerns.
Likewise, Facebook could charge companies for their Facebook profile pages. Corporations like Gap have 884,409 fans. Walmart has 2,089,889. McDonald’s boasts 4,456,805. The free exposure these corporations are getting by joining social networking sites is astounding, and certainly appears to be lucrative enough that they would willingly pay for it.
Myspace had to lay off a third of its workforce? Really, it has a workforce? What did that workforce actually do? Or was it a group of three people and one had to leave? It’s amazing to read the way people now describe myspace and how correct they are. I had two myspace pages, one for personal and one for my radio show. I haven’t logged onto the radio show page in over a year. I still log into my personal page from time to time but myspace has almost become a lost city. It’s a ghost town filled with nothing but spam. My friend’s pages are still in existence, but I know that they have left. It’s been so long since people have updated their pages that you can ‘see the cracked and boarded up windows’. The site feels empty and deserted. Myspace has become similar to visiting a location from my childhood that is filled with ‘myspace memories’.
The financial value of these social networks is horrifically over estimated but I do have to congratulate the people who’ve managed to make money on them. If you can make it, grab every dollar you can. Here’s why I think that they are ultimately valueless. They don’t produce anything. They only exist because users have decided to believe in them. Much like Santa Claus or the Easter Bunny. As soon as those things aren’t important to your life, they just disappear. They don’t get put in a closet to collect dust, only to be found and resold in a yard sale. They just disappear. Just like myspace, people lost interest and it’s just ‘gone away’. Consequently, how can you profit on something that really only exists because we choose to acknowledge it’s existence? If we validate somethings existence, we are able to dictate the nature of that existence. If that existence becomes annoying to us, i.e. spam, we will cease allowing it in our personal worlds. So, good luck making money on something that exists with strict stipulations.
In the seven months since this article was written it seems that MySpace has decreased even more so in popularity. I had to check my own Facebook account to see if there were any advertisements—if there were I was unable to locate them, which may account for the demise of MySpace (I have never had a MySpace account). It would also seem that there are two things that need to be consider when discussing social networking sites: first–where/when will Facebook be placing their advertisements and second when will society tire of Facebook and move on to the next great social networking site?
I think it makes sense that Myspace has had a huge fadeout. Their constant spam messages and ads were encouraged me to never logon to my old account.
When I was a junior in high school, Facebook came about. I worked at the local DQ and all the senior girls that had their college emails setup and were able to talk about the newest fad. I remember being so excited to finally get my own account just because so many older friends were doing the same. I think Facebook was genius for starting up with the select group of college students only. Do you think it would be as popular as it is today if it began by targeting baby boomers only? Or 13-18 year olds only? Or 60-80 yr olds only? I can’t say I would have been as inclined to yell, “Hey sign me up!” as I was with Facebook. College aged students were the perfect group. They primarily did all work online with their computers, they are getting ready to get into the real world and are exploring business networking and networking with each other. It was a target group was positioned to just keep growing and growing, which it obviously did.
As far as advertising, I think you hit the nail on the head, “Facebook and Twitter users don’t come in search of content and are not interested in it.” I feel Facebook needs to work on how long ads stay on the screen before refreshing. Personally on average, when I log on to my own personal Facebook account, I will probably only spend a matter of seconds, at most a minute, on a certain page. Each time I refresh, new ads will pop up. Facebook may get more attention if they can format Facebook content to refresh while the bordering ads stay the same for a few moments. It is similar to television. With the exception of those who actually do enjoy ads, I would say it is safe to pronounce that nobody really sits down in front of their favorite television program to be entertained and engaged by commercials, but we are forced to sit through them. Now we have the luxury of TiVo and DVR to help us skip through. . . Facebook is kind of doing their own “DVR-ing” for us, as users are able to just ignore the content or refresh to a different page and immediately see new ads. Recently they have added a small box to the top right of each ad which enables the user to skip to the next ad if they are not interested in the current one. Clearly we won’t let the ads get in the way of our preferred content. Targeting is the answer. I read an article about Facebook awhile back, forgive me—I do not remember the source, but it discussed Facebook tracking your web “paths” to better cater advertisements to better fit your needs and wants.
I would say it is true; the answer to targeting lies in reading between the lines with your Facebook’s personal traffic. Why else would you come to a social network if you are not interested in people around you? So of course it makes sense that they try to track your interests and hobbies. Recently, I try to always pay attention to type of ads that are presented to me on Facebook just to see if the targeting tactic is true. It proves to be accurate for me . . . yes I shop for clothes online, yes I shop for Purdue gear online, and yes, like any girl, I look at engagement rings online. You better believe it—those ads surely take up the majority of the borders on my Facebook homepage.
I can still remember the end of my senior year of high school when my friend introduced me to Myspace. Years later we both deactivated our Myspace accounts. Just a few weeks ago she informed me that she reactivated her account so she could follow one of her current favorite bands. I was then reminded what Myspace was aimed at….high schoolers who love bands!
I do feel that facebook is used more for social and professional networking. Facebook allows users to know entirely way too much about other individuals, but it is relatively easy to navigate and is very interactive, which is what draws individuals to the site. It has become an obsession for many people. At one time it consumed way too much of my life. I can’t tell if its Facebook fizzling out, or if I am just losing interest in it. Facebook has also helped me reconnect with my former boss, and actually helped me get a job because of the networking. I have helped line-up an internship. One of my friends posted on his status that his company was hiring interns, so I forwarded him my other friends information. I do feel that Facebook does have advantages and isn’t just used to pry into other people’s lives.
Facebook also aims its advertisements toward the content listen on your profile. There have been several times when I have seen “Masters Degree in Public Relations” along the side of my profile, and other ads related to my likes and interests, but I have never clicked on these ads to see what they are about. I don’t know if I don’t trust them, or if I am just not interested in them, but either way the advertisements do not benefit from me.
Reading through the other comments makes me feel old. I never even considered having a MySpace account, and really hesitated with getting a Facebook one. After reading your post and considering my experience on Facebook, it is interesting to think how Facebook will generate any income. There are plenty of companies on Facebook who have pages which consumers can “like”, but I don’t believe they have to pay anything for that. In a way, Facebook is offering free advertising. In the post, you noted Advertising analyst Seth Goldstein said that advertisers would need to get people to send their ads. With the current companies on Facebook, isn’t that already happening to an extent? If I “like” a company, then it shows up on my homepage, therefore showing up on all my friends feed pages. All for free, for the company. Perhaps Facebook should start changing companies for access to their pages. But it would be hard to tell the difference between a average citizen and a company. I’m not sure what will happen to Facebook. Frankly, I’m already bored with it. And there seems to be others to take it’s place, or at least to compete, such as LinkedIn. Who knows.
I haven’t logged on to my MySpace in several months, and the last time I logged on, I don’t think I did anything with it. On the other hand, I use Facebook multiple times a day. I think FB could make money with ads that target users. I find myself clicking on things every now and again. At least once a week I see an ad for employment or a temp service, so I’ll click on it since I’m job hunting. I think the more personalized the advertisements get for a specific user the more money Facebook will make in the end. I definitely agree that advertisers should stay away from MySpace. Many people on it are too young to have a credit card!
This blog just reminded me that I still have a MySpace page. I went to go sign on and guess who forgot their password? It has literally been that long. I’m guessing it has been a year since I have checked my page. It’s very interesting how MySpace just dropped in popularity. I remember first hearing about it when I moved out West my first year of college. At this point, it was just gaining popularity. All of my friends back home in Indiana slowly jumped on board. It was nice to be able to decorate your page and add music to your profile. However, the advertisements became too unbearable. I remember it took a while for the page to load onto my computer.
While I consider MySpace a dinosaur at this point, I’m not convinced Facebook is heading in that direction. Facebook has its flaws, but it doesn’t have that annoyance factor (not yet at least). There isn’t bright colors and moving pictures polluting everyone’s page. For me, it does one job. It keeps me in touch with my friends across the country. I have noticed the occasional ads on the side of my screen. They magically know my interests and occasionally features ads from my favorite stores. I understand this is just part of the game. As long as it doesn’t cause a big distraction or dip into my privacy, I can live with it.
In this article you touch on the fact that social media is constantly evolving. Yet another example: This article was written in March of 2010, and in less than a year, we meet Facebook Ads. “In order to get your attention, advertisers need to let you know what your friends are buying or thinking about buying, or they must somehow get you to send each other ads” – and that is just what Facebook Ads has accomplished. Advertisers have the option of targeting demographics by age, gender, city, state, school, network, and more using Facebook Ads. For instance, a college bookstore would only want to target college students. As for the revenue aspect, advertisers pay Facebook Ads each time the ad is clicked. Based on your targeting options, Facebook will suggest a bid per click, and advertisers have the option to limit the number of clicks per day. What’s more, ads are paired with a “like” button, and once your friends “like” an ad or a product, their names will show up along with the ad, letting you know what your friends are interested in that particular item. I found it really interesting to play with the “Create an Ad” widget found here: http://www.facebook.com/ads/create/. You can see the different options and pricing available.
I’d never heard it suggested that social networking sites were not very financially valuable and could one day face a bubble bursting. I can certainly see the end of Myspace as it becomes more and more of a desert in terms of users. I also have a hard time agreeing with the suggestion that Facebook is a poor place for advertisements because people aren’t going on the site to seek content. I don’t watch TV for the ads and I don’t watch movies for the product placements either. Insidefacebook.com suggests the site is topping a billion dollars in revenue. The fact that the number of users on the site are as big as the world’s third’s largest country I’d say the site will be alive and well long term.
I just had a conversation with my teenage daughter about Myspace and Facebook. She has a Myspace page but has not accessed it for a couple of years because of all the spam and junk on it. Most of her friends are no longer on it as well, most all are on Facebook. When I initially set up my Facebook account, she was still using Myspace primarily and Facebook was for “old people.” She is now completely connected through Facebook and has started Twittering as well.
One thing that I have noticed about some of the banner ads I see on Facebook is how there is a lot of targeted marketing involved. I have my employer listed on my profile and probably 80-90% of the time, one of my employer’s ads is my page. I almost never click on the links for the ads that I see on FB because the few times that I did they were obvious gimmicks that felt like a rip-off. I will sometimes see ads though that get me to visit a company’s website, but not through the FB link typically.
I learned really quickly that I do NOT want to be a fan of products, groups, or television shows on Facebook because of the volume of posts that will end up on my wall.
Facebook does seem to be constantly evolving, adding new features that I think will give them opportunities for additional revenue sponsors (if it hasn’t already). Their new Places app where people can check in at various spots (restaurants, clubs, movie theaters, etc) right now typically links to a Bing map of the exact location (can you say stalker?) and also allows for you to “claim your business” by taking and linking it to their FB profile. Then whenever anyone checks in at your location, their whole network is exposed to your company – brilliant!
Facebook is a social media platform like no other. In my opinion, it’s the only Web 2.0 vehicle that has proven itself to be relevant, sustainable, and profitable. Now, in order to understand the depth of social media profitability, you do need to look beyond just the dollar signs. Facebook has the correct recipe for success and the proof is in the demographic pudding. MySpace could never seem to keep its audience beyond high school graduation and many of its users could be traced back to a common interest in music, while Facebook appeals to all ages and truly is a social (in the interactive and communal sense) network. Twitter has potential to be as popular as Facebook, but leans more towards the “live” mode of social network and less towards community. As I see it, Twitter tweets are more time sensitive than Facebook posts. I can browse my Facebook news feed once a week and still feel connected and not feel like I missed out on anything. If I go more than a day without reading tweets, I feel like they are now irrelevant and it would not even be worth the time to get caught up. These are just a couple of observations as to why I believe Facebook is the most complete social media platform and the one who will remain relevant, and even financially profitable in the near future.
It is hard to make a profit off of something that you give away for free. i.e. Facebook accounts. It is probably the most popular site because of that fact, although it also seems to be its burden. “Advertisers need to let you know what your friends are buying or thinking about buying”, I think think this is the main reason for the like and dislike buttons that companies ask you to click on. Facebook is a great, user friendly site and I would consider to be better in that sense than MySpace. I never did figure out all of the ins and outs of that site. I wish that I had the answers for them to make money, if I did, I would be doing it myself. I’m sure that within the next year, there will be a bigger and better site that everyone will flock to. As far as making money, you will have to incorporate the advertisements into the site, while not being too intrusive on the member’s personal profile. One idea would be to ask questions about products, likes and dislikes, when they sign up for an account.
Cano’s statement that MySpace has been deluged and overtaken by too many ads and annoying applications that they have detracted from its original lure is exactly how users are beginning to feel about Facebook, as well as continually rising privacy concerns. Yet, despite the aforementioned issues, no one seems to be going anywhere. Facebook has it made, and I have to disagree that it will be going anywhere in the near future. In the year and a half since this blog post was written, Facebook has undergone hundreds of changes, the majority of which were in an effort to increase revenue. Twitter has remained largely unchanged, and MySpace has sunken further (although I read somewhere Justin Timberlake is planning a “save MySpace” event? Guess we’ll see!)In order to succeed, we must evolve, and that’s exactly what Facebook continues to do. Facebook is now creating behaviorally targeted ads based on individual IP addresses. For example, when I was studying for the GRE and applying for graduate school, Facebook served me countless ads about prep books, programs, and more. When I changed my status to “married” I started getting served ads for baby formula and diapers. Overall, I think Facebook has the right game plan, and I believe we will see other social networking sites flounder as it continues to grow.
Really – there are ads on Facebook? I hadn’t noticed that!
I rarely see Facebook and Twitter ads for one reason: probably 99 percent of my social media use is on my phone. The apps I use don’t show ads.
When I do go to the site, I don’t click on ads for a couple of reasons. First, I barely notice them because I’m not in a “shopping mode” when I go to Facebook or Twitter. I’m in a “social mode,” so clicking on an ad would only get in the way of my intentions. It’s the same reason it’s awkward when someone slips into salesman mode at a party: selling and socializing don’t go together well. Second, as Facebook has grown I’ve become much more concerned about privacy and malicious applications. Therefore, I don’t click on links because I’m afraid of unleashing a virus. If I were to see something I’m interested in on a Facebook ad, I would pop open another browser tab, Google it, and look at it after I’m done with social time.
First of all, I couldn’t agree more with the reasons for why MySpace has plummeted. I actually got onto my account last week for the very first time in five years. I wanted to find an old friend and believe it or not, was not on Facebook. I knew they were my friend on MySpace, but when I logged on, I couldn’t get through all the clutter, ads and new features they had displayed all over the site. No wonder there is a decrease in users.
I realize that Facebook is a business too, and that it has to have advertiser support in order to keep the operations of the site open. It’s important to keep the site updated with new features (to attract new users and keep old users happy) and to continue to protect the privacy of users. However, most people joined the social networking site (and got away from MySpace) because of the ease of being able to communicate with your friends. I think the second that it becomes “too cluttered”, hard to navigate or people start to get annoyed with all the ads, is when someone else will create another site that is bigger and better. In the technology industry, if you are not “on it” all the time, the next person is waiting right behind you to make the next move and kick you to the curb as they did MySpace.
As an advertiser, I would like nothing more than for my product to be endorsed by the users themselves, versus an ad that is posted on the right-hand side of the viewing page never to be noticed. I think the non-for-profit industry is thinking down the right path. I get a lot of Facebook messages, from my friends that ask me to donate or even just click on the link to a site for a good cause. They have MY friends promoting their cause, their fundraiser and I most likely will support it. Why? Because the friend that sent it to me is important to me. I usually can link the organization or cause to my friend and it automatically triggers an emotional response to me. Maybe because it’s my sister in law that sent me a link to support Autism and I know my nephew has autism. Maybe it’s my best friend that sent me a link to support a breast cancer walk, and I know that her aunt just went through a horrible battle. Friends are definitely the way to advertise your product. I’m always thinking how we can do that too for our services!
I don’t know many people, other than my technologically-impaired parents (they won’t be offended, as they know it’s true), who pay any attention to Internet ads, particularly those on Facebook. I literally never even look at the sidebar ads. In fact, I sometimes forget they’re there. It’s interesting to me that advertisers are still paying for these kinds of traditional ad placements on Facebook, when they could just set up a fan page and connect directly with Facebook users. It seems to me that this would be the most efficacious way to build their clientele/customer base, since 78% of people trust peer recommendations and only 14% trust advertisements (stats per Social Media Revolution YouTube video). On Facebook, a peer recommendation can be as simple as a news feed story about a friend “liking” a business’s fan page. That being said, I have “liked” a few business fan pages of my own, and the content pumped out by these pages and into my news feed can be quite annoying. I don’t think I’m alone in my line of thinking. I’ve had many conversations as of late with other Facebook users who are growing tired of the “clunkiness” and commercialization of the network. Some of those people are contemplating ditching their profiles and limiting their social networking to the simpler Twitter or the new Google+ networks. If a number of people make that move, I predict that like MySpace, Facebook will go “from trendy to empty”. But if users continue to run from ad-friendly social networks like they have in the past, I wonder how any social network will financially survive in the future.
Amanda Mikulski
Journ 620
Willis
October 26, 2011
Blog Posting Wk 7
My Response to: The flash and the cash
Thank goodness others are with me in not knowing facebook was around in 2004. I guess I hopped on the band wagon in 2005, during my first year of college. Back then I remember telling everyone that liked MySpace more and I didn’t really use facebook that much other than to see how many friends I could add up. I was told it was for college students, so it was a good way to connect with the new people I was meeting. I’m with everyone else, MySpace just go too complicated with ads and everything. I thought it was cool that you could personalize your page, but they you can to click out of ten things just to read a comment. People started to stop going to MySpace and go to facebook and that’s why I did for the most part. I just want to read updates and get information from my own comments, so all the other stuff is not that important to me. I see facebook getting a little less complicated every day. Now there are aps and everything, and I just do not partake. I think changing the site will eventually shoot them in the foot, although I do like the idea of having study material available.
Before I even used MySpace, I was using Blackplanet.com. It was a social media site for African Americans to meet and greet. The company also owned the same type of sites targeting Asian Americans and Hispanic Americans. When I was in my early college years, Black Planet was “the bomb”. Then along came MySpace. You could become a techy because you could change your background, put music on your page, and develop photo slides to show everyone everything about you. I remember signing up for Facebook, but it was a college thing and no one really signed on. Then one day, there was a big bang and Facebook was sooooo popular! There were Facebook apps for your phone and you could instantly tell your “friends” what you were doing. MySpace was dead! My “friend” posted a status or uploaded a pic, you could post your comment instantly! It was like Facebook was the new cool kid overnight. Now, Google is trying to be the new kid on the block, but they aren’t quite convincing everyone. With all the Facebook changes, I have had so many friends “threaten” to leave Facebook and go to Google+ but five minutes later, there they are on Facebook updating their status again. We may as well get used to it; Facebook is here to stay.
I never got into the whole MySpace thing. When I first joined Facebook, my freshman year of college, it was only for college students. I liked that a lot better then MySpace being opened to everyone. Now, Facebook is opened to everyone too. Which I think is a reason why I don’t use I as much as I used to.
I do agree that spam and hacking on MySpace were ridiculous. I would hear my friends talk about it. Which is why I continued to like Facebook, but it is now going through the same thing. Because of this, I would never click on an advertisement on Facebook. I don’t want to be hacked or spammed.
Something that I find fascinating and creepy at the same time; is how the ads on Facebook are tailored to me. It advertises the music I like and job openings I would be interested in. However, I am scared to click them. Since these sites make money on there advertisements, maybe they should do something to insure people like me that nothing will happen if I click on an advertisement.
I agree that MySpace has lost its initial appeal. I never set up a site myself, because I found it more of a self-advertisement and link-haven. My husband had a MySpace site for awhile, though; he no longer uses his, because it turned into a big commercial and led users to other site, in addition to the fact that not many of his friends have kept theirs.
While the ads and links have also gotten a little busy, Facebook is a much more “innocent” and direct means of communication. It is great for me to keep touch with my family out of state and keep family and friends updated on my kids and our lives when time doesn’t allow phone calls. It does make sense there would be difficulty getting advertisers and money. The links and advertisements are intimidating;there are so many of them, and with all of the hackers creating viruses, you just don’t know. I do think they need to get in between poeple’s connection with one another to increase profits; we don’t know who we can trust online, but we know we can trust our family and friends. I hope they are able to get it figured out though. I haven’t quite gotten the excitement over Twitter, and Facebook is valuable in my life.
I never had a MySpace account, primarily because it seemed like an immature thing to engage in when you were old enough to be in the workforce. Simply put, it was not something that my generation was interested in.
Facebook, on the other hand, has a farther reach. Even “grandma” is trying to find her friends on the network. Unlike MySpace, Facebook is “cool” and acceptable for all generations. It’s relatively easy to use (except for some of the complex games) and is attractive to people of all ages.
I can understand how advertisers can become bewildered on how to effectively reach members on Facebook. Frankly, Facebook users are on Facebook not to be advertised to, but to check up on their friends and family. They are in there for a limited period of time.
One of my biggest problems with Myspace was also the spam and advertisement overload, but Facebook is a lot more subtle in their advertising techniques. I am more likely to check out a company’s link if I am able to see that 4 of my friends are fans of that company. It is a way to link people by the advertising and I think it is pure genius. Facebook got this one right and I attribute this with part of the reason they are still successful whereas MySpace is dying.
One of the trends that we have followed in this course is the propensity for media, especially blogs, to cater to specific groups. I see the shift of interest in social media as a very similar progression. Despite a lack of credible sources of advertising most of these sites still cater to users who number between 50 and 200 million.
What users of social media sites like Facebook and MySpace do not realize is that there are other means of raising revenue from pulling the information users provide on their online profiles. Facebook has already opted to sell some of the personal information of its users including phone numbers and street addresses.
I must say, I am amused that this blog was posted more than two years ago, but still maintains relevancy to the internet environment today with how quickly change has occurred online. The point about advertising really communicates the issue Facebook is having now with showing the value of their organization after their IPO, and it has been a challenge. How are they actually making revenue is the billion dollar question. The bust of MySpace really communicates how Web 2.0 users want a sense of community, but also strive for authenticity and transparency, and when fake profiles and ads are cluttering the community people turn away. It will certainly be interesting to see what happens with Facebook as their revenue stream evolves, especially since it appears that the network has reached its critical mass. Will it face the same fate as MySpace and the victims of the dotcom bubble, or will it survive and maintain a community that users still want to engage? Only time will tell.
The same question is still being asked over two years since this post was written — “How do you make money off of social media?” Much of the downfall of Myspace had to do with too much advertising and fake profiles and if Facebook follows in this tradition, or does what the post says and tries to put advertising between people, it will probably fall to the same fate. Although it is nice to get advertising that is targeted to you based on what’s in your profile, it’s distressing to see how far companies will go to sell to you and how much they know about you.
Kathelin and Jeff make great points. I, too, thought it was somewhat ironic how this post was one of your older ones yet is painstakingly relevant to the troubles Facebook is facing after its IPO disaster. Like MySpace, Facebook is in danger of suffering a similar plight if it doesn’t innovate or offer enhanced content or services. It has been decent strides in staying on top of mobile technology trends, such as integrating social readers and apps, but I hear more and more people becoming disenchanted with the site because of privacy concerns, particularly where third-party advertising is concerned (think the “like” button and hyperlocal advertising driven on behavioral targeting – concepts Vivian mentions in the text). If advertisers want to capture eyeballs, I don’t think social media is going to be the place to do it; search engines, maybe some blogs or special-interest websites. But definitely not on Facebook or Twitter.
It is very interesting to see how Social Media has changed over time. I have begun to notice that even Facebook is slowly losing popularity among friends. Social Media sites such as Twitter and Instagram seem to be the “popular thing” right now, but I think even that will change. Ultimately, I think it is smart for advertisers to stay out of social media until we have a better idea of what we’re getting ourselves into.
I think that it is an interesting observation that these social networking sites expect to somehow receive money from a certain audiences however, there are many different things that play into keeping a company like Facebook or Myspace running. I think that social media would not be the place for a venture capitalist to try to make cash in the long term. You brought up the point that Facebook beat out Myspace in such a short time. However, I like how you discussed Goldstein’s idea that there revenue can be earned if one notices what his friends are buying and it is noticeable on a site. There are now social media apps that are now in beta testing that are put in certain stores to recognize your face from your Facebook account and then send you coupons for that establishment. I think that they might be on to something, but the face of social media will constantly change due to what is “in”. Thus, it would be smart for advertisers to avoid social media and focus on search engines or deal in social media for the short time that it is in to make money to invest for more advertisement.
The meteoric rise and fall of Myspace gives us a great example of how unstable and ever changing social networking can be. While Myspace was in its prime, I personally would have never thought so many users would abandon their accounts and join Facebook in such a short amount of time. It seemed like one day everyone had a Myspace account, and the next Myspace was a dead zone for users. The fact that Myspace experienced such a drastic change over a short period of time should be taken into great consideration in the world of advertisement. The amount of advertisement seen on Myspace was one of its downfalls as stated in the article, and if Facebook is not careful, could experience the same demise. I believe advertisers should not invest a great amount of effort or money into advertisement on social networks until a proven, stable form of advertisement that targets the correct audiences is reached. The risk of social networks becoming only a fad like Myspace is too great and prevalent for advertisers to invest a great deal of time and effort.
It’s interesting how tropes from pop culture can remain so present. I’ve never seen “Jerry Maguire,” yet I’ve heard, and responded to, the frequently quoted line in the past.
But to the task at hand. The way that social media advertising has changed in the past year alone is frightening. As I discussed in one of my papers, Facebook and Google now have the technical ability to record our Internet footsteps. They see what we ‘like’ and sites we frequent and then ‘personally select’–meaning a computer system makes judgments on our identities and likes–what advertisements to bombard us with. After posting about coaching a local cheerleading team, I soon noticed ads relating to cheerleading, dancing, and even cheerleading-related products were following alongside my Facebook wall. Bianca Bosker, an Executive Tech Editor for The Huffington Post, recently wrote an article on how Facebook’s advertising software automatically posted the type of undergarments she purchased to her Facebook page. See article here: http://tinyurl.com/9955jf7. Not only does the media site’s advertising policies come under question, but the users privacy was violated as part of Facebook’s marketing and income strategy. With social media’s ability to ‘predict’ what I want to buy or to announce to the world about my undergarment purchase, it makes me even more cautious about the media I participate in and consume.
I remember when Myspace was in. I lived in Spain at the time, so keeping in touch with friends in the States was important. Then Facebook happened and it was beyond confusing. Within the last year,I actually got rid of my Facebook. I felt that I spent way too much time on unnecessary social sites. If I want to keep in touch with people, I have email and a phone. As far as advertising goes,I believe individuals advertise more with their new trends than on a social site. I use to get annoyed with those and ignore the ads. When an item is seen in person or opinionated by someone known, then it’s easier for it be acknowledged and supported. Trends always die though, and a new one sparks up.
In the movie, The Social Network, there is a scene where Mark is talking to his friend Eduardo. Eduardo wants to post ads on thefacebook because he wants to start making money. Mark insists that they have to wait because as soon as they start posting ads, they will lose popularity. This appears to be the struggle of all social media. They want to make money, but if they get greedy or act too soon, they will lose their users. So they have to wait until the users need them, then insert ads. The problem with this is that there is a lot of competition in social media, so creating a need for your product could prove difficult.
At my high school, myspace was definitely the most popular social media website, at least up until my Junior year. I never got a myspace due to the fact that by the time I was even contemplating about getting one, there were numerous stories on the news about sexual predators making false profiles. I had never really been into the social media anyways so I just decided to not have any part in it. Then Junior year came around and thats when Facebook really became the new hit and I gave in and got one. As far as the adds go, they are simply annoying but I understand that making a profit is a pretty large priority for social media’s such as facebook. I just do what practically every other human being does and just ignore them .
There’s no doubt that social networking has taken over the social world by the jugular. And what I mean by that is, that whether you have Facebook, MySpace, Twitter, or not, you are still aware of its existence. My mother is not a computer whiz and her English is very limited, but somehow she knows about Facebook and twitter. Knowing that the social networks have that much reach should makes us more aware of the responsibilities of CEOs of such should have, which begin with fighting for the rights of the oppressed.
I remember about a year ago when the rumors began that Facebook was going to start charging people to use their website, and even more, I remember the outrage that followed. This rumor, of course, turned out to be false, but it did raise an interesting point to consider. People are so attached to the social networking service of Facebook, but they do not want to pay to make sure it continues to be available. Users will even complain at the mere presence of advertisements, despite Facebook’s efforts to keep them tailored to your interests and be the least flashy and obtrusive as possible. If something is not done about this, Facebook could very easily meet the fate of Myspace. Yet another new networking site may take its place, but until social media sites can think of some way to generate revenue without the help of their users, or the users decide to step up and help the service they apparently appreciate so much, revenue will decrease and the dotcom bubble will burst. Facebook is doing what they can; now it’s our turn.
I use to have a Myspace a very long time ago but i deleted it because I didn’t use it. I then moved onto Facebook where I found that I liked it much better. The only ads that there were on Facebook is the ones on the side of the page and they were usually related to my interest. I currently do not mind them as much. On Twitter I have not seen any real advertisements besides a company’s own Twitter account.
Facebook cannot succeed if it relies on traditional, passive, visual advertising for a few reasons. By this I mean the square pictures or logos on the side of the page when visiting from a desktop browser. These types of ads will fail because they are not visible for the millions of consumers viewing Facebook from Apple mobile devices. They are also less engaging than video ads on YouTube or Hulu. Where Facebook can succeed in revenue is the realm of Facebook gaming. Hundreds of millions of Facebook users play social games in which they can play against friends, share scores, and buy upgrades with real money. If Facebook can tap into this revenue stream (more engaging “cool” media for which Facebook is the channel) they can pull in new sources of money.
When I was in Jr. high and even high school I was not allowed to have a MySpace or even Facebook until I was out of high school (super strict, I know). But, now I obviously have a Facebook and I use to love having one. But, as time goes on it becomes less entertaining and more of a hassle. I do not think that the adds are very useful on Facebook. The adds that they post on the side of the page are very small and go completely unnoticed. I personally like that I do not notice the adds but from a companies stand point I would try to make them more prevalent. I agree with the idea that YouTube has, before you can watch something on their site you have to first watch one of the adds they have, this is great advertisement (because there is no choice).
Social Networking sites seem to come and go very quickly. It seems that they each last a few years, and it’s on to the next one. Myspace became very popular, yet it seemed to target an age group that was specific to high schoolers. Lots of people got on board, but as Facebook rose, it seemed to attract college students. When something seems exclusive to a specific group of people, it creates a desire in the ones who do not have access. Once Facebook was open to more users, everyone of all ages jumped on board. And like Stephanie Cano said, Myspace turned from “trendy to empty” due to the exclusive desires Facebook created.
I found this post particularity interesting in the reasoning on why MySpace fell short to satisfy long-term social networking users. First, the ads. MySpace does have big flashing ads that appear all over the home page. They are hard to avoid ad users get annoyed and frustrated by their constant presence. Facebook, while it has numerous ads, strategically place them on the right side of the page, and they are small. These small ads can be looked at, but are less annoying and constant to the user. Next, is the spam. MySpace (from personal experience) is flooded with spam and music buffs. Individuals and bands are always adding friends and messages are always coming through that bombard the user. On Facebook, not only as the spam less prevalent, but it is more noticeable. Messages from unknown people or people promoting a personal item is much less prevalent and easy to spot due to the wording and links.
My prediction is that Facebook will fade away just like MySpace back in 2006. Because social networking is still a relatively new idea, people will naturally be prone to use it more heavily. However, like any other fad, the concept will eventually become “old news.”
I agree that spam on MySpace was absolutely absurd. That was a huge part of the reason why I deleted mine altogether. However, Laura Jane Kenny was right in saying that MySpace is better for music publicity; Facebook has yet to launch that idea fully.
Vivian’s book clearly explains how commercial television and radio dominate the U.S. broadcasting industry, and they are solely driven by advertisements. Without it, we would have to pay a fee every time we log onto social media sites. However, sites like Facebook and Twitter allow advertising without it becoming distracting or annoying, which is one of the reasons why it is so popular among the population in today’s society.
I have never been an avid user of social media networks or sites, but I have looked on them while friends or family are seeing new status updates or checking for messages. I have seen the difference between MySpace and Facebook, Facebook has a lot less adds and doesn’t confine the space with advertisements that is supposed to be yours, hence, “MySpace”. As the article states as well, MySpace has a lot of instances of fake profiles sending you to adult sites or links to various advertisements.
What was interesting is the amount of spam that was said to be prevalent on MySpace. In reference to Chapter 2 of John Vivian’s The Media of Mass Communication, there is a lot of question as to what can be censored or monitored as far as messages go, so if there was more of a chance to monitor what is being sent through messages via MySpace, would the company make a come back? It is highly unlikely with the over 700 million+ users, according to the PowerPoint Media Economics. And as the Zuckerberg interview from CNN states, Facebook’s core vision is use technology to help people connect with friends, as to where a social media site like MySpace, gets lost in the array of advertising and seemingly loses its original purpose.
An interesting point the article made was that there could be a high interest for investors who could find a way to connect advertisers to specific social media users and their interests more. It was said that Facebook users rarely look at the ads that are uploaded, but if they were geared more toward the specific user, it could make all the difference. As John Vivian states in The Media of Mass Communication on page 58, “Early investors can make a real killing if an enterprise attracts enough additional investors who, in effect, bid up the value of the enterprise.” If cooperation could find a way to target on an incredibly small scale what specific users are interested in then putting up ads just for them, I believe investors could profit greatly. I believe if this were to happen, more and more advertisers would be inclined to bid for space on Facebook.
I agree with how facebook is more for college and/or business social networking. The people on facebook are older and wiser when it comes to advertisements and knows to avoid them. Myspace on the other hand is full of younger viewers who have not yet been subjected to the trickery of advertisements that is consuming our society today. I personally never had a myspace and I never intended on having one. I have had friends who had it and I have seen all the ads that entice you to click on them. Though this is very annoying to many people, advertising on these social networking sites produces a decent size portion of revenue for these sites. If these sites aren’t charging for you to participate in their site, then expect ads to be present to tempt you.
As most other readers have stated, I have had a Myspace for several years as well, and was on it previous to Facebook but then got a Facebook once I realized more people operated there then Myspace. It seems as if the switch happened gradually and began with the older, more collegiate crowd, and then slowly funneled down through the younger adolescent groups. Rightly so, I have never noticed the advertisements that pop up on Facebook, or that blink in the side bar and ask to click on it to view larger. Most of time, if at possible, I will “X” out of the box so it no longer appears on my news feed or window. However, nowadays, many other applications aside from Facebook, allow you to sign on or even sign up on a website via Facebook or through the social networking site. For example, Spotify, Twitter, different music players, Instagram, and other platforms. You can even sign up to online banking through Facebook. Point being is that Facebook has quickly become an epicenter for a multitude of other applications and arenas that have taken precedent in our lives.
I remember when I first made a Myspace account, I thought it was one of the best social network inventions since AIM. Although as time went on Myspace became boring for me and they started making to many changes to the format of their website. that is when i became bored of Myspace and decided to make a Facebook. Facebook showed me other ways to express my thoughts and it became easier for me to communicate with my friends. one thing that i do agree on that this post mentioned is the ads that are on these social network sites. they become annoying and also they take alot away from the website.
I have had myspace since I was in Highschool and was such a “cool” thing back then. Now? I don’t even log in anymore. I keep getting notifications and emails but I just delete them without even reading it. The interest is not there anymore. On the other hand, I feel as though Facebook has done a better job in keeping people interested in it by changing around there website and constantly updating. Advertisements on the corner however do not grab my attention. I just log on to see what is new with my friends, and just keep in touch with people that I don’t see much anymore. As far as using it as a search engine? I do not think I have used it for that matter at all, or even thought of using it. I feel as though I trust google more then I do with facebook search engine. Facebook has not really gotten there name out as a tool for searching material, it is more for the social networking. If facebook adds something that college students can use, such as a scholarly search engine, I feel as though that would benefit the users more and we would not need to switch from facebook to google to do our searching. We would have one big website for doing homework, and at the same time keeping in touch with friends! Who wouldn’t like that?