Is There Any Hope for MySpace?

Let's face it, all the cool kids are using Facebook these days. Heck, with over 500 million members, even the uncool kids are using Facebook. Mark Zuckerberg's baby is exactly what MySpace wanted to be, at least in terms of numbers, and at this point it's tough to see MySpace sticking around for too much longer.

Here's the thing. MySpace has put a lot of effort into reinventing itself through its streaming music service, but it doesn't appear people are buying it. According to the U.K.'s Telegraph, MySpace lost 10 million unique users between January and February 2011, going from 73 million to 63 million in just four weeks. That's not how you want to start the year off. The social networking site is also bleeding cash.

"MySpace lost $100 million in the first quarter last year. To get back on track is going to require a massive investment -- one which [owner] News Corporation is not prepared to make," a senior digital exec explained to The Telegraph. "So instead, it needs to keep taking costs out of the business while it's still in its hands."

News Corp. has already done this by trimming MySpace's staff, both here and abroad. At the same time, News Corp., which paid $580 million for MySpace in 2008,  would like nothing more than to find a buyer and be done with the "social entertainment destination," as MySpace likes to call itself these days.

What do you think, is there any chance of a comeback for MySpace?
Via:  The Telegraph
omegadraco 3 years ago

I do not believe myspace will be able to come back from where it is. I think it is a perfect example of when being too customizable can be a bad thing especially when you have users who do not understand the implications of the code that is being written.

rapid1 3 years ago

That is a solid assumption omegadraco. I remember when I joined myspace long long ago. I find it somewhat funny though really as many of the things I saw then are also true of Facebook. At that time Myspace was also all the rage, that is why NEWS Corp bought it. One thing Facebook has done that they did not is adapt quicker and continue to expand. These things may be good or they may just be good now, I could see something new taking all of those (now 600-625million users I believe}. One thing with technology is it expands as well as moves exceptionally fast today, and trend's have always done that. So if a newer form of sociality in our digital world becomes the new trend then Facebook will die as well. It may linger for some time, but Myspace has been doing this now for 3 years at least. As far as hope for Myspace I don't think so. It is not like the original owners even care as they have been paid and gone there own way basically.

jonation 3 years ago

I think the only hope is to just embrace the music site. Get rid of the rest of the pages/sites. Then offer something extra over competing music sites. Myspace is already a must for most amateur bands.

der meister 3 years ago

MySpace is a total failure now. For being too customizable just like Omegadraco said above. I know I would never remake and account with them. I deleted mine about 2 years ago, but hadn't really used it for the previous 3.

inspector 3 years ago

No hope, facebook has won this war!

dodgers2213 3 years ago

I remember back when I was a senior, I had a discussion with my friends on Facebook vs Myspace. I believe Myspace was the largest at the time, we were praising the customizations while facebook had none. At the time, Zuckerberg declined selling facebook and we laughed about how much of a mistake that was

fast forward, I have a facebook, my myspace has not been used for 2-3 years, and I absolutely detest that website now. Really funny how things change. Heck, myspace had a promo that made it into Iron Man 1 at the beginning of the movie, now that joke has no meaning to people going forward

Drake_McNasty 3 years ago

I actually had facebook before I had myspace go figure. All of my college friends told me to create a myspace account because that's what cool kids were doing. It was lame and I haven't used it in at least two yearst. When i first got it there was way too much spam, I stopped using it when spammers took over. I use facebook for friends and I prefer for music. I think the only way to make a comeback is to make it into a music site like jonation said.

OSunday 3 years ago

I had a myspace in middle school, and I think in their current state, myspace is currently occupied by kids. The customization and frills of colors and banners is what appeals most to a younger age group, while I feel more mature people prefer facebook because of its pleasing aesthetic and functionality as a social networking tool, not a sort of mini-blog like myspace sort of is.

I still haven't deleted it for some reason, its the exact way it was in middle school and stands as a little nostalgic monument from junior high years to me haha.

Mark Zuckerberg > Tom.

soldier1969 3 years ago

I do miss MySpace it was so customizable is what i miss. I could add full page pics to my page and music of my choice for all to see with my own design. I never liked how simple FB was or is and now Im no longer on there either because of the privacy issues and it was mostly a waste of time to me. FB is for noobs who dont know how to or those that dont want to take the time to learn how to design a personal page. I have better things to do now than worry about what Joe or Jane are having for Supper or what their opinion is of the latest Dancing with the Stars episode.

RCasey 3 years ago

I recently deleted my myspace completely. Facebook all the way!

wannab 3 years ago

I deleted my account a looooong time ago. Being a coder, i used to love to have the ability to customize my profile. When they took that away and made it so you could only use their basic "layouts" i simply called it quits.

WKaye 3 years ago

Both Social Networks were good for it's time...Myspace was once good. I notice a lot of spam...thats when it got stupid. now, FaceBook is having the same problem. too many spam. too many Ads. both were a great way to communicate and connect with other friends and family. I wonder what the next big thing would be. I use a Facebook a lot, deleted my Myspace years ago...along with everyone else. but myspace is more for little kids and Facebook is more for college kids.

DCoggins 3 years ago

No, because everyone is on f/b and so that's where ur gonna go, to the place that everyone else is so that you can keep up with everyone. The exact reason why the sites where invented were to keep in touch, well how can u do that on myspace if no one is on their to keep in touch with, get it? Everyone is on f/b so to keep in touch you too have to be on f/b, and so on, and now EVERYONE is on f/b so why go any where else if there all in one place allready, the whole world is not gonna switch so the whole world wants to stick togeather and you can find them all on f/b hence they are the winner it's a simple majority rule & that's the end of it

rapid1 3 years ago

I actually think the group messaging apps are going to take some wind out of Facebook's sail's. Then it will become Myspace 2 and die a slow death like Myspace is doing now. I still have both my Myspace and Facebook pages I don't really know why to tell you the truth I very rarely log onto Myspace, and if I do it is because I got a message or event notice that might be interesting. The sight looks like utter crap now though from what I have seen.

rapid1 3 years ago

As far as it goes I probably do far more social interaction and discussion on here (HH) than I do on Facebook.

TZhao 3 years ago

myspace is fked.... all i can say

pjnissim 3 years ago

Myspace has a strong hold on music- but they've already laid off employees in SF... not looking good unless they restructure what they're all about.

Post a Comment
or Register to comment