Once at 70 million users, down to 30 million and falling; once sold for $580 million dollars and then again for $30 million dollars; from 1,200 employees to 200. Myspace, which once dominated the world of social media, is well and truly in “intensive care”.
There is a glimmer of hopes. Tim Vanderhook, of Specific Media, plans to rebuild Myspace to a “digital media company on par with Yahoo, AOL, Facebook, and all the other big names out there.” Sounds familiar? The difference may be that X factor that Justin Timberlake has.
Vanderhook is teaming up with Justin Timberlake through one of his companies, Tennman Media Network, which will be part-owner of Myspace. They will be revealing their vision for the site later this summer. But indications of making it the social network and place to be for all things music and music related may revitalize a dying site. Justin Timberlake’s twitter followers numbering in the 5 Million, may also be a potent force to help kick-start the revolution that will take place at Myspace.
If they are to bring Myspace back to relevance, and make it a profitable site, attracting advertisers and the music industry alike, the $30 Million price tag could prove to be a bargain!
No comments:
Post a Comment