Compared to Facebook, MySpace is so last week.

Facebook and Twitter are trouncing MySpace in the social media wars according to this story from cnet.com.

According to Experian Hitwise, [an] Internet monitoring company, . . . Facebook, the No. 1 social network in the U.S., grew its share of all the visits to social-networking sites from 19 percent in September 2008 year to 58.6 a year later. That's a more than 190 percent increase. Over the same period, Twitter's share jumped from 0.15 percent to 1.84 percent, and the service now ranks as the fourth largest social network.

Ailing MySpace, which is scurrying to remake itself into an entertainment portal, is still in second place behind Facebook, but scores of users have begun walking away.

According to Hitwise, MySpace can still boast 30 percent of the social-networking market, but the site is in freefall. Last year at this time, MySpace captured 66.8 percent of the market.

MySpace is hunkering down to develop more compelling music and video services, but it needs to emerge quickly from its chrysalis with something attractive to offer.

You can read the rest here.

Hat tip to the BNA Internet Law News.

(jbl)