MySpace tries to reinvent itself
Once an Internet darling, the site has been steamrolled by Facebook and Twitter. Can it come back?
MySpace is ugly. Messy. Hard to use. It needs a makeover almost as badly as Snooki from "Jersey Shore" -- and it's about to get one.
MySpace will try to reclaim its lost status with young people as it overhauls its website this week to focus on Generation Y, The New York Times reports. MySpace is a division of News Corp. (NWS).
Its newest strategy is to become a niche site focused on entertainment. The site found that its members were there mostly to listen to music and talk about it, along with movies and television shows, writes Miguel Helft.
So the new MySpace has given up trying to compete with Facebook and Twitter. It will narrow its purpose and target a specific audience. Plus, executives promise to clean up the site and remove the annoying clutter.
"Our focus is social entertainment," MySpace president Michael Jones told the Times. "Niche players have long staying power."
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"Let it be," one wrote. "Quit while you are ahead."
"The only reason you still have the people you do after making all the other idiotic changes is because Facebook doesn't allow customization," another wrote.
"Instead of simplifying things, MySpace is becoming more complicated," yet another wrote.
Analysts weren't all that thrilled either. "They are definitely trying to become more relevant again," one told the Times. "But it's going to be hard because so much time has gone by."
Facebook and Twitter are hot, but MySpace still has its fans. Helft writes that MySpace ads reach about 24% of online users in the U.S. Facebook ads reach 62% of users.
There's an audience there, albeit a dwindling one. So is entertainment the last, best hope for MySpace? Probably. But that isn't saying much.
and most are now moving over to facebook.
myspace has really screwed up!
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Some investment advisers are entertaining that possibility, especially in light of Monday's triple-digit loss in the Dow.
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