Reuters is planning to launch its own version of MySpace this year - though its community website will not be aimed at teenagers. Instead, fund managers, traders and analysts are being targeted. Reuters hopes to draw from the 70,000 subscribers of its messaging service as a starting point for its foray into the fast-growing sector of community websites. The website will also be exclusive to Reuters subscribers. Reuters reported yesterday an 8% decline in annual trading profits - to £308m - as it invested in its business. Revenues were £2.56bn, up 4.8% on an underlying basis. Reuters said revenues would increase at least 6% this year. Reuters must have realize the profitable business that MySpace is making and is trying their luck to step into this new market. Though it is slightly different, but the idea is about the same. We might be seeing it being as profitable as the original MySpace.
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