The Compete Blog reports more about the Myspace vs. Facebook comparison story:

If you’re MySpace, the graph below certainly stings – in the past two years, average stay for a visitor to the site has dropped from 30 minutes to 10 minutes. In the meantime, Facebook has steadily upped this number, leaving its rival in the dust. As of January 2009, Facebook kept visitors engaged on site over 7 minutes longer on average than MySpace, with the average stay still on the rise.

Facebook has overtaken Myspace in traffic some while ago and now also beat Myspace in amount spent on the site.
Reason: The Developer Platform, which give users so many things to do.

Stilll: Myspace makes more money than Facebook.