Myspace is bringing home the bacon

This is from Fred, and I suspect we have a lot of shared readers, so sorry for the duplication, but I wanted to record this here for posterity.

  • Fox Interactive reports $550M in revenue for the year, 10% above budget
  • $183M in fiscal Q4 with $30M operating income
  • Murdoch says MySpace is “on track” to pull in $800M in 2008

I have heard that Facebook, which has only started monetizing, is north of a $150M revenue run rate.

As I’ve said before this is a big deal for all of us.  As Myspace continues to prove it can drive revenues the future looks less risky for other ad-funded consumer internet based startups and their value rises.