Myspace: The Once and Future King of Social Media?

Posted by Somedia on June 27, 2013

We all know that Facebook is the current king of social media. Before Facebook became the king, Myspace was the Titan and great pioneer of social media. The site was a major success in finding new ways to connect people via the internet.

 

After being purchased for $580 million in 2007, the company was bought by several investors, including Justin Timberlake, for just $35 million last year. The site was recently relaunched with a good deal of debate on if they can make a comeback at all.

 

 Myspace has an uphill battle but they have a few things going for them as well.

 

 The Good News

 

The new site looks absolutely amazing. The design is modern, simple and generally easy to navigate. Scrolling from the sides feels natural and looks great. From a visual perspective, myspace in much more appealing than Facebook at this point. 

 

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There are some great tools for finding other users.

 

Myspace still holds several contracts with the music industries top players. This provided them a great content base and allowed them to push music services that could compete with other services like Spotify.

 

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During the account setup, or update for previous users, one page makes it clear that the company has plans to be involved with more than just the music industry. it appears that there will be support for large brands as well as small businesses and entrepreneurs.

 

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The Downside

 

The biggest obstacle myspace faces is overcoming their own reputation for failure. The battle is going to be a long one.

 

 They are attempting to entice new users to the site with music, but they don’t offer much else that is truly unique. They need to set themselves apart by offering something new. Innovation will win the people over, not another place to stream music.

 

For any social community to thrive, there must be active members. Whether updating an old account or creating a new one, users are going to be barraged with tons of “users” that haven’t been active in years. All of the inactive members need to be hidden from active users.

 

It is difficult to say this early if myspace will make a comeback. It is clear they understand that businesses and the traffic they create is an important part of social media. Hopefully they will tap into that and innovate new ways for businesses to reach their intended markets.

 

Only time will tell if Myspace can make a comeback or not. Check out the new myspace and let us know what you think of the changes. Where have they succeeded and what could they do better.