November 3, 2010 – Rather than keep fighting a losing battle, Myspace has seemingly conceded the fight for social networking supremacy to Facebook and taken their brand in a new direction.
In the early 2000s, Myspace dominated the world of social networking. When Facebook landed on the scene in 2004, it was the first sign of death for Myspace. Facebook went public in 2006 and surpassed 100 million users just 2 years later and became the fastest-growing social network around.
Myspace was losing members and those new to the social media scene were more inclined to opt for Facebook. Soon, Myspace’s market had dwindled to a place where local bands showcased their music in attempts to get notice of a record label. The higher-ups knew something had to be done or risk dying out.
Myspace gets a makeover – visually and content-wise.
The new Myspace will focus on entertainment news and trends, instead of purely social interactions between online friends. Where once a user’s homepage showed their friends’ status updates and latest news, the new homepage will show custom content related to their chosen entertainment preferences.
Finding and sharing content between friends will be done with the discovery feature, letting you see what your friends are watching and what’s generating buzz on the Internet. The “My Stuff” area will let users create and upload their own content. Engaged users who contribute to topical discussions and show a reputation and knowledge about a particular topic will be awarded with tools and a platform to enhance their “guru” reputation on the site.
We think it’s a good move for Myspace to take a new direction in content aggregation rather than trying to fight the behemoth that Facebook has become. Myspace has become a hub for bands to easily create a website and get their music out, and it seems to be continuing on this trend of promoting new entertainers.
Where some have feared that we’re running out of content on the Internet, Myspace may help inspire a whole new world of content sharing and creation, especially with the promotion of “experts” on certain topics. Only time will tell if Myspace’s revival is a success!
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