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A recent Investor’s Business Daily report on the effectiveness of social media had somewhat contradictory findings. It was mostly discouraging regarding the benefit to businesses who are diving into the “social web” en masse.

Facebook and Twitter were both evaluated for their effectiveness in generating business activity for corporate participants. I was surprised at the tenacity of MySpace, also included in the study. Even in its heyday, MySpace focused on music and entertainment. MySpace is not considered a dynamic or vibrant online community at this point in time. Yet the report cited traffic of 58 million page views per month for MySpace!

Last week’s Wall Street Journal featured a chronology of privacy-related concerns for MySpace and Facebook users. The WSJ quoted a slightly lower number (49 million MySpace page views in August 2010), yet even that remains far more than I would expect intuitively.

Investor’s Business Daily reports that businesses continue to use MySpace for social media campaigns. However, MySpace provided the least measurable benefit as a means of driving traffic to corporate websites.