Reply #10: Social network sites like MySpace slow Google

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We have found that social networks are not monetising as well as we were expecting,” said George Reyes, chief financial officer, as Google reported its earnings for the final quarter of last year.

Since Google has guaranteed to make minimum payments to a number of social networks that carry its advertising, principally MySpace, the slow growth of the business had left the company out of pocket and contributed to falling profit margins in the quarter, he added.


http://www.ft.com/cms/s/0/cf3a63b6-d050-11dc-9309-0000779fd2ac.html?nclick_check=1