Tag: MySpace


MySpace – SOLD, Refocusing On Music… again!

MySpace has been sold to ad network Specific Media for a reported $35 million.

News Corp, which paid $580 million for MySpace in 2006, had hoped to get as much as $100 million for the struggling social network.

It’s being reported that MySpace will once again, refocus on music, after failed attempts to broaden to a more general entertainment site. Musicians have been moving away from MySpace in recent months, and the new owners will have to make drastic changes to reverse that trend.

The deal includes cutting half it’s staff of 400. MySpace CEO Mike Jones confirmed that he will be leaving the company in a letter to employees.

But there this a sexy factor in MySpace’s future. Justin Timberlake, part owner of Specific Media, is MySpace’s de facto creative consultant as a result of the deal. And his creative energies and contacts could help make MySpace successful again.

Timberlake will have an office, with a six-person staff, and it’s hoped he’ll help reinvent the site and make it a digital hub of entertainment content for millions.

MySpace has been down this path before. It spent the past year or so trying to re-fashion itself as an entertainment hub for 13-to-34-year-olds interested in music, movies, celebrities and TV. But its audience continued to shrivel amid competition from Facebook, Twitter and others.


Billboard adds Artists’ Social Media popularity

Billboard has unveiled a new chart, the Social 50, that ranks artist popularity on Social Media.

To calculate the 50 most popular artists each week, Billboard uses the number of weekly additions or subtractions in followers, as well as page views and song plays on artist pages on Facebook, MySpace, Twitter, iLike, and YouTube.

Billboard Chart director Silvio Pietroluongo said in a statement last week that the goal of the Social 50 is to provide users with information about “the artists that music fans engage with the most in the social arena, which in today’s world is a significant validation of their investment in an act.”

Billboard has been in operation for 116 years. And over much of that span, the company has been the go-to place for determining the top songs, artists, and acts in the country. But in recent years its influence has arguably waned, as Apple’s iTunes store has become the top place in the U.S. to buy music. Users shopping on iTunes can simply look at the store’s best-selling titles to see what’s hot at any given time.

Who are your favorites? You can see how they’re doing @ Social 50.