News Corp Exec: MySpace lost its way

News Corp Chief Operating Officer and Deputy Chairman Chase Carey fielded questions on MySpace at in New York late last month, admitting: ‘Clearly, MySpace lost its way a bit’.

Carey went on to comment about the future of MySpace:

‘We’ve spent a lot of the time since last summer right-sizing, went through some layoffs, bringing some focus to it, investing in the quality of customer experience to improve that. We’ve got a lot of product launches coming.’

Carey’s thoughts on MySpace vs. Facebook:

‘We’ve brought focus back to what MySpace should be about, which isn’t going toe-to-toe with Facebook. It really is about a content site where you discover, share, interact with core content, music, games, and entertainment.’

MySpace’s traffic:

‘We’ve still got great traffic, traffic that’s not going in the right direction, but it’s trending better than it was.’

Earlier in the year, Rupert Murdoch (founder, chairman, CEO of News Corp) admitted MySpace had ‘made some mistakes.’