Facebook Passes MySpace
Like Blu Ray vs HD DVD, Except We Care
Facebook surpassed MySpace for the first time this quarter according to Comscore. Both had 115 million visitors in the month. The U.S. still is MySpace country with Facebook getting about half the visitors that MySpace does. India young professionals have caused the most recent explosion in Facebook users. Mashable, the social networks blog source, says Facebook dominates MySpace in design, media, function, and almost every other important area. Social Networks strike fear into parents of young children because of instances of predators luring under age kids. Both Facebook and MySpace are regularly rumored to be takeover targets by the giants, but analysts are skeptical about valuation.
Trend Themes
1. Increasing Popularity of Social Networks - The rise in Facebook's user base and its dominance over MySpace highlights the trend of social networks becoming increasingly popular platforms for communication and interaction.
2. Emerging Market Expansion - The significant growth of Facebook users in India indicates a trend of social networks expanding their reach to emerging markets and capturing young professional audiences.
3. Competition and Rivalry in Social Media - The competition between Facebook and MySpace underscores the trend of fierce rivalry within the social media industry, driving innovation and improvements in design, media, and functionality.
Industry Implications
1. Social Media - The increasing popularity of social networks presents disruptive innovation opportunities for companies in the social media industry to enhance user experience, privacy measures, and digital advertising solutions.
2. Technology and Mobile Communications - The expansion of social networks in emerging markets like India creates disruptive innovation opportunities for technology and mobile communication industries to develop platforms, apps, and services tailored to local preferences and demographics.
3. Child Safety and Online Security - The concerns of parents regarding child safety on social networks highlight the need for disruptive innovations in the cybersecurity industry, focusing on advanced measures to protect underage users from potential online predators.