Justin Timberlake ‘to regenerate’ MySpace
If you thought that Twitter and Facebook are the kings of social media….you're right. They dominate like nothing else on the internet. But if you thought all their competitors had fallen away and been left to die in a pile of broken dreams and discarded profile pictures, think again!
Singer turned actor Justin Timberlake is reported to have bought the rights to MySpace.
The social networking site, which is long thought to have been relegated to the pages of technological history, was seen being spruiked on Twitter, with Timberlake linking a video about the new version of the site than pioneered the idea of social networking online.
The video showed the new features of the site, as well as Justin Timberlake's MySpace profile page. The site will allow users to transfer their followers and pictures from Twitter and Facebook. Music is one of the staples with MySpace, as users will have the ability to share and browse music.
Timberlake owns a share in the company Specific Media, which paid $35 million for the site in 2010. It's not clear when the website will be open to the public but the site says on the main screen: "We're hard at work building the new MySpace, entirely from scratch.
"But we're staying true to our roots in one important way – empowering people to express themselves however they want. So whether you're a musician, photographer, filmmaker, designer or just a dedicated fan, we'd love for you to be a part of our brand new community," it said.
MySpace was originally created nearly ten years ago, back in 2003. Since 2008, and with the rise of other social networking sites such as Twitter, Facebook and Google+, MySpace has seen a rapid decline in popularity and profitability to the point where the number of employees have been reduced from over 1,500 to around 200.
MySpace was the first real indication businesses must change with how they communicate with their public through devising a social media strategy and a shift in how media entities provide their content to consumers.
Posted by Tim Wright