MySpace in July, 2005, for $580 million, the thought of selling it just six
years later for $35 million was unthinkable. But it happened. Now, a year
later, plans for MySpace’s next evolution are finally revealed.
in revenue and went through extensive layoffs, cutting over half
their employees. Currently the MySpace audience is only 54 million. Compared
to Facebook’s nearly 1 billion members, many consider MySpace to be
singer-turned-actor Justin Timberlake and Chris and Tim Vanderhook. Their plan
is to completely rebuild the site from scratch.
place for artists to connect with their fans.
creative community to connect to their fans,” Tim Vanderhook told The
Hollywood Reporter. “We’re going after artists, right after this we’ll be
talking to various artists to come on the platform. We want to give them a
chance to help build it with us. We’re really far along, but we really want
that last twenty percent to really be crafted by more people like Justin that
actually know the tools and things that they need.”
obvious when it comes to promoting and recruiting, however, he won’t reveal who
will be his first targets. Eventually, the site will reach out to undiscovered
talent and their fans.
unsigned,” Chris Vanderhook said in The Hollywood Reporter article.
favorite artists’ page. In other words, Timberlake admirers may one day see
their picture on his page with the caption “#1 fan.” The new co-owners believe
that this method of connecting fans and artists will be a big attention-grabber
for potential users.
the new MySpace. According to MTV News, the interface looks “a bit
like Facebook-meets-Instagram, with hints of Pinterest and Windows 8.”
photos, but playlists as well. The new “trending” tab shows everything from
schedules of bands performing on late-night shows to magazine profiles of
whistles, MySpace will still have to compete with the social network that
wounded MySpace in the first place: Facebook.