An analyst for Pali Research, Richard Greenfield has raised his rating on News Corp. (NWS-A), partially because of MySpace, which is generating revenue of over $30 million a month. When you contrast that to YouTube (GOOG), which most estimate are bringing in tops of $25 million for the whole year - which doesn't even pay for its bandwidth - this is a real strong showing no matter which way you look at it.
Of that revenue, Greenfield says that the majority of it comes from the U.S., reaching about $24 million, says the Barron's blog.
It is also expected that monthly revenues will double over the next year for the Web site. If that happens, they'll be taking in over $60 million a month by the early part of 2008; that would equal about $750 million a year.
While the jury is still out on Google and YouTube, MySpace is beginning to make a lot of money while YouTube can't make up their minds whether they want to put an ad up in a certain way.
Latest News from Companies, Stock Market insider views and recommendations.
Posted by: Company News | April 7, 2007 5:36 AM | Permalink to Comment