Murdoch on MySpace: "We screwed up in every way possible"

Murdoch on MySpace: "We screwed up in every way possible"

Summary: Rupert Murdoch on MySpace, speaking on Twitter, he admitted News Corp.'s failings in how MySpace was handled.

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Rupert Murdoch has only been on Twitter for less than a month, but already has been making waves throughout the Twitterverse. Thankfully the 'Wendi Deng' fake account ding-dong detracted away from most of it.

Today, in a candid display of honesty from the man who brought us the News of the World and the phone hacking scandal, he took Twitter to accept the failings of MySpace, which News Corp. acquired back in 2005.

Here's what he had to say:

Ouch. I feel for Tom. Oh wait, Tom isn't there anymore. He's over at Google+ causing stirs of his own.

MySpace, long thought to be on its way out after the News Corp. purchase, was back in the news this week after analytics firm comScore said that the once-social network is still doing pretty well.

The figures show that many were in fact still on the sinking ship of MySpace, while many of the life rafts of Google+ were laying bare and empty. While it is almost impossible to believe, MySpace still rakes in more traffic than Tumblr and Google+.

Many were surprised. "I have no idea where (and why) MySpace is getting so much traffic -- still", Om Malik of GigaOm said.

MySpace is still in decline, however, whether the numbers reflect it or otherwise. News Corp. converted the social network into a music hub. But instead of competing with the likes of Facebook, Google+ and Twitter, it then had to face Spotify and Apple's iTunes, amongst others.

But if you saw Murdoch's tweet and gasped in horror, it has been no secret that News Corp. and Murdoch were critical of how they managed MySpace after it was bought.

During the News Corp. 2011 annual meeting, Murdoch himself made a frank admission. He defended the $530 million price tag that the company paid for MySpace, but said that: "[News Corp.] then proceeded to mismanage it in every possible way".

But at least we can take solace in the fact Murdoch and News Corp. "learned lots of valuable, expensive lessons" from the MySpace fiasco. If only it could apply the same principles to its print media.

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4 comments
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  • Dying Days...

    .... of the Murdoch empire.
    ben.rattigan
  • Bugging the wrong phone

    I guess Tom did not have a UK phone to bug.
    Your Non Advocate
  • Everybody is screwing up

    I don't think anyone knows how to stanch the decline of print media. Murdoch is actually trying harder than most to figure out a way to make money online. MySpace was an experiment they hosed up. "The Daily" may be another... it's too soon to tell.

    All we have so far is people on both sides of the political Big Ditch cheering as both Murdoch and The New York Times slide slowly into the abyss.
    Robert Hahn
  • Always good to see a high profile exec...

    ...willing to admit he messed up when he did. It's too easy to pretend to be infallible, lest someone castigate you (or worse, fire you) for making a mistake.
    John L. Ries