MySpace on track for $800M in 2008
For those who still doubt the monetization capability of MySpace:
- Fox Interactive reports $550M in revenue for the year, 10% above budget
- $183M in fiscal Q4 with $30M operating income
- Murdoch says MySpace is “on track” to pull in $800M in 2008
I have heard that Facebook, which has only started monetizing, is north of a $150M revenue run rate.
Not as profitable as a lead-gen business, but pretty impressive nonetheless for the world’s ugliest social networking site!