Posted by: Olga Kharif on October 18, 2007
Today, everyone is talking about how MySpace is not all it’s been cracked out to be. Rupert Murdoch appears to have just lowered the social-networking site’s revenue forecast for next year. It looks like advertisers aren’t lining up as fast as News Corp. had hoped. I wonder what’s going on: It seems a little premature to start lowering 2008 forecasts. Could it be that Mr. Murdoch is sensing a weakness in online advertising in general? That would be bad news not just for MySpace, but for all online properties.