In other words, the Internet is moving in on your TV, computer, theater, video store, iPod, and maybe even that Starbucks down the street.
The question still hangs out there whether Fox will ever see a return on its investment.
Analysts say that MySpace still hasn't figured out how to make money from those billions of monthly page views.
Ann Burkart, who handles public relations for Fox and MySpace, took exception to this allegation and started ticking off a litany of ways in which MySpace could make money through efforts other than banner ads.
So Myspace has turned a profit then? Burkart wouldn't confirm.
The fact is analysts aren't sitting up at night worrying about how MySpace or Yahoo are going turn page views or unique viewers into profits.
Both companies have tens of millions of people online at any moment who increasingly rely on them for information, communication, shopping and entertainment.
When asked whether he felt sorry for News Corp.'s billionaire chief, Rupert Murdoch, as he tried to figure how to get a return on his MySpace investment, Tapscott said it was all about "the next step."
Tapscott offered one juicy possibility.
"MySpace has hundreds of millions of users and 30,000 unsigned musicians," he said. "There must be a way to make money from that."