This recent report from ComScore, More than Half of MySpace Visitors are Now Age 35 or Older, as the Site’s Demographic Composition Continues to Shift states that more people 35 and older are using MySpace and that the teen demographic has dropped 12% in a one year period. Once sites like MySpace, Xanga, and the whole social networking thing got around to the mainstream media all the teens left the building. They are no longer cool.
However, I see this is as the absorbing of this type of communication into the mainstream. Teens check it out first and it is cool because you are the first, plus it is this big secret. Once Mom finds out and gets an account, it is lame. What eventually happens is that these social networking sites became mainstream communication devices. Instead of using email or chat, they use MySpace and Facebook. It is a better communication device anyway because it looks like you are talking to a person not jdumb63. It seems to be the next evolution of communication among people in general.