After signing up 1 million new users in the last month, the tech world is wondering if Myspace can become cool again. See here a video report from Newsy:
Embedded Video Source by Newsy.com
Transcript by Newsy
BY BREANA JONES
ANCHORED CHRISTINA HARTMAN
Is Myspace on its way back to the top? The site was once the social networking darling before competitors like Facebook and Twitter took the crown. But some analysts say it could be making a comeback after pulling in impressive numbers so far this year. Bloomberg has the details.
“The company announcing today that it signed on 1 million users since December, when it introduced a new music player. Of course, the site has been hemorrhaging users since when it was in its peak in 2008.”
Membership is still down overall — but traffic IS up. The turnaround could be the result of a number of factors. The Herald Sun says Myspace is “getting its sexy back” thanks to new co-owner Justin Timberlake, who bought the company with brothers Chris and Tim Vanderhook back in June.
“The singer-turned-actor plunged much of his own money into the deal because he wanted for users to have place where they ‘can can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect’.”
CNN says the change in approach is paying off for the pioneer site once thought to be banished to the social media graveyard.
“The new owners … have effectively stopped trying to compete with Facebook and other social sites, instead focusing on Myspace’s superior platform for posting and listening to music.”
And according to The New York Times, MySpace may have found its niche.
“Since it still has full licensing deals with thousands of record labels, as well as songs from untold numbers of unsigned acts, MySpace has a library of 42 million tracks, several times more than Spotify or Rhapsody.”
Ironically, Myspace credits its integration with Facebook and Twitter as a reason its new user numbers are so high. Up next for Myspace? A deal with Panasonic to put an app on HDTVs.
Transcript by Newsy.
(Image source: newsy.com, Myspace.com)