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Kitty SuKINI RAO

Myspace To Relaunch With Music Focus At End Of The Year

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Myspace, the former social networking giant has recently announced a relaunch that will aim to reclaim the position it once held as an online hub for music.

Even as the site has lost users, revenue and more importantly credibility in the social networking space over the last few years, its never really stopped being a legitimate place for musicians to share their music and for fans to hear it, even in the face of platforms such as BandCamp and SoundCloud.

Many believe that the social network died when Rupert Murdoch bought it for $580 million in 2005. Its declining traffic eventually led to its sale this year for a small $35 million to Specific Media and personal investors including Justin Timberlake.

Despite the supposed decline in its popularity, MySpace claims it still has "over 70 million active users globally on a monthly basis and in the U.S it's in the 30 to 40 million range right now."

"I look at MySpace as not just technological exploration and a social networking place," Timberlake, acting creative director for Myspace told Metro.

"It will be an entertainment hub. People will go there to explore their artistic side and we will give them tools to do that. We are relaunching next year and I would rather not say anything about it. But it's very exciting."

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22 May 2012