MySpace, the once reigning king of social media, suffered another demoralizing setback, according to The Christian Science Monitor in “MySpace CEO Van Natta resigns, leaving the social network in turmoil.” Van Natta recently stepped down after less than 10 months on the job. Van Natta was a key player in the ascendancy of social media giant Facebook before taking over MySpace. When the previous MySpace CEO, Chris DeWolfe, was on his way out, News Corp. ardently sought Van Natta. He quickly earned the status as the only candidate in the running. Now, as the company hunts for another leader, they are also struggling to give the situation a positive spin. In particular, MySpace has publicized the stabilization of their falling membership. Unfortunately, that small bright spot does little to mask falling ad and search revenues. As you consider your business’s positioning within the social media landscape, be wary of investing any time and resources into the distressed MySpace.

David Thimme, Feb. 27, 2010

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