MySpace hemorrhages users after entertainment relaunch

MySpace lost an extraordinary ten million users in the space of just a month, according to figures from ComScore.

The social networking site, bought by by News Corporation in 2008, saw its popularity plummet from 73 million unique users in January this year to just 63 million a month later, says ComScore. A year ago, when it embarked on an ambitious relaunch plan, it had 95 million.

In comparison, Twitter has around 200 million users, and Facebook half a billion.

The changes to the site have been focused on gaining and retaining its core user-based – the under-35s. They have centered around music and entertainment, including a feature that shows trending topics in real time and another that recommends content based on a user’s preferences.

Earlier this year, the company announced that it was making 500 people redundant and repositioning itself as a ‘social entertainment destination’ rather than a social network to rival Facebook. Indeed, it signed a deal with Facebook shortly afterwards allowing users to receive entertainment updates based on their Facebook preferences.

It’s already been confirmed that the site could be up for sale, but it may need to improve its user base and profitability before anybody’s prepared to buy it.