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November 20, 2012 12:22 am GMT
Unless Specific Media hits a home run with the new streaming music service it's raising $50 million to pivot Myspace into, its bargain basement buy of the social network for just $35 million in 2011 could be a disaster. Slides attained by Business Insider shows Myspace will lose $43 million in 2012 on revenue of just $15 million. Yet somehow it thinks the notoriously tough music biz will save it.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/upgKk_PSdRM/
Myspace Lost $43M In 2012. Heres Why Launching A Profit-Thin Music Service Could Nail The Coffin Shut
Unless Specific Media hits a home run with the new streaming music service it's raising $50 million to pivot Myspace into, its bargain basement buy of the social network for just $35 million in 2011 could be a disaster. Slides attained by Business Insider shows Myspace will lose $43 million in 2012 on revenue of just $15 million. Yet somehow it thinks the notoriously tough music biz will save it.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/upgKk_PSdRM/
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