MySpace lost 10 million users from January to February, dropping their membership from 73 Million to 63 Million.
MySpace was released in 2003 and in no small part helped paved the way for Facebook,
seeing how at the time Facebook launched MySpace was already adjusting people to the idea of social networking. The site launched the careers of quite a few artists, and some random people (anyone remember Tila Tequila?) but I guess that wasn’t enough to keep it afloat, YouTube and Vevo seem to be the platform of choice for most musicians to get noticed, while Facebook 
Facebook reigns as the current social networking king, leaving no room for MySpace.MySpace was bought by New Corp in 2005 for £330 Million and despite their trying to rebrand the site as a place for artists of all kinds to get noticed, and even adding a Facebook connect feature, the sites been dying ever since.
Source: BBC
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