MySpace merged with Fox Advertising Network to boost reach
Published August 26, 2010
With MySpace traffic continuing to dwindle, parent company News Corp. has decided to incorporate the social media site under the Fox Advertising Network in an attempt to make it a more appealing digital marketing platform for advertisers.
Since Facebook surpassed MySpace in 2008 to become the No. 1 social network, MySpace's clout with advertisers has been declining. With the network's 2006 contract with Google set to expire soon, the diminishing user base is hampering News Corp.'s attempts to find new advertising partners.
The solution for News Corp. is to fold the Fox Advertising Network into MySpace, reports the Wall Street Journal. The Fox Advertising Network was created in 2007 to provide third-party partners with simplified access to News Corp.'s various online outlets. The platform currently serves 150 million internet users, which the Journal notes is double MySpace's current reach.
While ad appeal on MySpace is declining, numerous advertising opportunities are sprouting on rival social network Facebook. Ad Age and eMarketer recently reported that ad sales on Facebook are expected to hit the $1.2 billion mark worldwide in 2010.