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Is MySpace as Big as We Think? "Certainly there are a large amount of people spending a large amount of time on this site," said Nate Elliot, an analyst for Jupiter Research. "When you look at the huge numbers they throw out there — 50 [million], 60 million registered users — those are a mirage." Elliot admits that the site generates a lot of activity, and that it may indeed have tens of millions of registered users, but those numbers can be deceptive and only tell part of the story.