MySpace Visitors Down 49 Per Cent

MySpace has lost almost half of its audience over the last year, new figures reveal.

The Telegraph has reported that the new statistics, compiled by web analyst comScore, has revealed that the social networking platform has seen its user base fall from 6.5 million visitors in May 2009 to 3.3 million in May 2010, a drop of 49 per cent.

MySpace, which was founded in 2003 and taken over by News Corp for $589 million in 2005, had more than 100 million registered users at its peak, but has seen numbers dwindle as rival social network Facebook's popularity rose in 2008.

The site has also lost two chief executives in the past six months, with Owen Van Natta quitting in February, and Jason Hirschhorn following in June.

The reports have disappointed MySpace executives as the site has recently begun to roll out a new profile page, complete with more user-friendly tweaks, functions, music and entertainment content.

The company also launched a new music streaming service, MySpace Music, in May.