News Corp.’s MySpace is currently suffering a traffic implosion that is ruining the site’s revenue structure. The company is desperately trying to reinvent itself and increase views to the site, but the bid does not appear to be working. Unable to stave the bleeding, MySpace is on the verge of losing its search ad partnership with Google. That’s $300 million the company won’t be earning next year.
Worse, MySpace might be putting its music service behind a paywall soon. That’s a good way to ensure that traffic won’t be skyrocketing any time soon.