by Mike Masnick
Fri, Feb 20th 2009 3:33am
You may recall, that a few years ago, MySpace (or, rather, News Corp.) signed a $900 million advertising deal with Google. The deal guaranteed at least that much in revenue from Google, even if the ads didn't really earn that much. Basically, Google felt the need to do the deal to keep competitors off of MySpace. However, as people have finally started realizing that advertising on MySpace (or other social networks) isn't working out, it's worth noting that the clock is ticking on the deal. There's still a bit more than a year left on the deal, but Google has been shying away from similar deals, and there's growing evidence that ads on social networking sites just don't pay. The Google deal may have helped keep MySpace afloat for the past few years, but without a replacement things may get trickier.
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