Tuesday, July 24, 2007

MySpace to Generate $1B of Revenue in 2007 - Seeking Alpha

"Henry Blodget submits: In a lengthy piece on the trials and tribulations of UGO Networks, Forbes' Erika Brown drops in an interesting nugget: News Corp.'s (NWS) MySpace is expected to do $1 billion in revenue this year.
Now, people have been sticking their fingers in the wind on MySpace revenue since the day Murdoch bought it, but Forbes has better insight than most. In December, Technology Editor Peter Kafka (now Managing Editor of Silicon Alley Insider) wrote a profile of Murdoch in which he put MySpace revenue at "$30 million a month", or a run-rate $360 million a year. Forbes's Brown presumably has similarly strong Fox relationships, and she's now pegging the 2007 number at $1 billion. Assuming solid month-to-month growth off the $30 million December number, the $1 billion isn't even a stretch."

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