Facebook surpassed Myspace in users in 2004. Currently Myspace has 130 million users while Facebook has 200 million users. Although, Myspace has a higher USA users base at 70.2 million users, Facebook should surpass that by the end of the year. Facebook currently has 61.2 million USA users. So, why is Myspace losing the war. Facebook is not the only social media company giving Myspace a run for it’s money. Don’t forget about Twitter.

In recent news, Myspace has lose it long standing CEO — Chris DeWolfe. The problem seems to be revenue. Advertising revenue is the only source of revenue for many social media companies, and with the recession — revenue is down.

I have already reported the bad news about Youtube and now here come bad news for Myspace. Who will be next?

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