Well, it seems MySpace won’t do $1 billion in revenue this year, as Forbes initially reported (and we ran with, because it seemed possible for a hyper-growth company with a reported $360 million run-rate last December). Based on Rupert Murdoch’s comments on News Corp’s recent conference call, we now estimate that MySpace will do about $600 million in revenue this year. And $1.2 billion or so in 2008.
How do we get there? By calendarizing Murdoch’s estimate of “$800 million” of Myspace revenue in fiscal 2008 (ending June) and throwing in some modest upside. For quarterly assumptions, please click here.