Korean community invasion

Korean super community Cyworld is launching in the US, according to PaidContent.org. The site will compete head-on with MySpace. It is very successful in Korea where a third of the population have signed up – and more than 90% of under-20s. It’s main revenue model is in selling virtual items (as in Second Life) which brings in $300,000 a day. It is making an average of $7 a user per year compared to MySpace’s $2.17.

Change of direction for FT.com?

PaidContent.org reports that FT.com may be considering dropping its subscription approach. It says The Guardian reported Pearson CEO Marjorie Scardino admitting that FT.com was finding it hard to keep up with the growing online debate as a subs site. New FT Group ceo Rona Fairhead was going to be “re-examining the model”, said Scardino. FT.com had 86,000 subscribers in June, 11% up on the same month last year.

by Jim Muttram