We know Facebook’s traffic and user-engagement stats continue to surge—seemingly at the expense of MySpace—but new data from Nielsen shows that MySpace rules when it comes to online video. In fact, it’s the top social-networking site when ranked by video streams, another sign that the “MySpace is dead” chorus may be a little premature. Granted, new CEO Owen Van Natta has a laundry list of things to fix, but getting members to watch videos (and the ads MySpace can plug into and around them) isn’t on it.

SEE ALSO: Forecast: Social Net Ad Spending To Drop In ‘09; MySpace To Suffer, But Not Facebook

MySpace beat Facebook in terms of video streams by about 3-to-1 in April, with an average of about 40 minutes per viewer—a sizable audience for branded entertainment properties (like the new show BFF, sponsored by birth control-maker Ortho Women’s Health & Urology), music videos or even well-produced UGC. In contrast, Facebook’s members only watched about 11 minutes worth of video each.

See the rankings after the jump.