MySpace Is Social’s Comeback Kid

Specific Media and Justin Timberlake picked up MySpace last June from News Corp. for just $35 million. News Corp., of course, paid $580 million for the site in 2005 before running it aground.

Now MySpace is growing again and the new owners have something to cheer about. According to CBS News and The New York Times, MySpace has added one million new members since December, when the company unveiled its revamped music player.

“We went from zero signups per day to 40,000,” Chris Vanderhook, the company’s chief operating officer told the Times.

MySpace has a library of 42 million tracks, several times more than Spotify or Rhapsody. MySpace also gets a lot of traffic. The Next Web reported recently that MySpace still performs better than Tumblr, Google Plus and Pinterest.

And the entertinment-driven soc net isn’t stopping there. Last month at CES in Las Vegas, MySpace announced a deal with Panasonic for MySpace TV, which will allow real time social sharing and commenting on music videos and television shows.

Jim Whaley, Vice President and at QuestBack, tells Adpulp “that it’s taken over a decade, but Myspace has finally “found its focus.” Whaley says Myspace is “an explicit example of how the social media landscape is changing daily,” and that brands should be aware of the relevance of this channel again.

About David Burn

I wrote my first ad for a political candidate when I was 17 years old. She won her race and I felt the seductive power of advertising for the first time. Today—after working for seven agencies in five states—I am head of brand strategy and creative at Bonehook in Portland, Oregon.