Oh, how the mighty have fallen! The once-powerful social media website responsible for launching the career of Tila Tequila is a shell of its former self. Myspace, bought six years ago for $580 million, just recently sold for $35 million.
Now I’m no financial guru, but I know a fire sale when I see one. The interesting thing about the sale (and the thing that may save Myspace’s neck) is the identity of one of the new owners.
Justin Timberlake is part-owner and newly minted creative director of Myspace. In his new role, he says: “There’s a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect. MySpace has the potential to be that place. … Art is inspired by people and vice versa, so there’s a natural social component to entertainment. I’m excited to help revitalize MySpace by using its social media platform to bring artists and fans together in one community.”
Even more exciting is the rumor that Timberlake is considering using Myspace as a type of talent contest, a la ‘American Idol’. So if you think you have what it takes, reactivate your account (or get one) and start practicing!
Thanks for posting Steph. It will be very interesting to see what happens to myspace. It seems like Facebook & iPhones just rule the tech world.
Looks like Justin’s role in “The Social Network” inspired him! There’s some potential in this route vs. what Google+’s week attempt to grab market share from Facebook. Seriously, “Circles”? That’s the best they could come up with?