What is Myspace and How Can Companies Benefit?

myspace-logo

Platform Overview

Myspace is a social networking site that enables its members to make friends, write blog posts, add music and customize their Myspace pages.

Company History

The Beverly-Hills-based social networking platform was founded in 2003 by several eUniverse employees with Friendster accounts who all saw potential in its social networking features. Chris DeWolfe, Brad Greenspan, Tom Anderson and Josh Berman officially launched Myspace in January 2004.

Tom Anderson MySpace Photo

Tom Anderson, everyone’s first friend on Myspace

In February 2014, Myspace had 1 million users. By November, that number jumped to 5 million. In July 2005, Myspace was bought by News Corporation for $580 billion. From 2005 until early 2008, Myspace was the most visited social networking site in the world, and in June 2006, it surpassed Google Search and Yahoo Mail as the most visited website in the United States. By late 2007 and into 2008, Myspace was considered the leading social networking site and consistently beat out its main competitor Facebook in traffic. On April 19, 2008, Facebook overtook Myspace in the Alex rankings. Since then, it has been declining in membership. In late February 2011, News Corp officially put the site up for sale, which was estimated to be worth $50–200 million. In June 2011, the site was sold to Specific Media and pop singer Justin Timberlake for $35 million. In June 2013, the site relaunched as a social entertainment network. In October 2013, the site announced that it had 36 million users and a 340 increase in artists using the network. As of May 2014, Myspace had an Alexa Ranking of 982 by total web traffic and 392 in the United States.

Target Audience

Although Myspace began as a traditional social network for the masses, it has since been rebranded as a social entertainment network. Writers, photographers, curators, brands, venues, DJs and photographers are among those that belong on the site.

How it Works

Signing up for a Myspace account is free and easy. Besides being asked to provide your basic information, when you sign up for an account, you are asked, “What are you about?” The purpose of this question is to get you to think about what kind of account you want to make. Myspace lets you select up to four boxes and choose from a variety of categories such as musician, photographer, dancer, athlete, curator, member and brand. “Member” is selected automatically for you, and if you are a business you should choose “Brand.” You should select two additional categories that best suit your interests or your business. After you create your account, upload a photo and write a description of your business in the “bio” section. You should also include the geographical location of your company and website URL. If you’re using Myspace for business purposes, it’s recommended that you select an image that most closely relates to your brand, the product or services your provide and your target audience. Once your account is up and running, you can post updates, such as links to your blog or YouTube videos, write comments or send out bulletins. With Myspace, you can also easily create playlists, so you might want to create a few that align most closely with your brand’s image. Then, you can start making connections with businesses that are related to your industry or ones with whom you already have a relationship.

Features

When it originally launched…

  • Myspace users could create a “Top 8,” where they could showcase the profile pictures of their top 8 friends.
  • Users could send out bulletins, or messages to all of their friends at the same time.
  • Myspace users had the option of using Myspace Codes, which consisted of basic HTML, to customize the appearance of their Myspace profile. They could do such things as change the background of their page and add a playlist of their favorite songs.

MySpace Original Profile

June 2005

Shifting Directions: The New Myspace

After several ups and downs, Myspace rebranded itself as a social entertainment network in June 2013, connecting the Gen Y audience to their favorite music, celebrities, TV, movies and games. The company discontinued “Classic Myspace” in a reset of the site and end of beta for their newest version. The mass deletion caused an outcry from thousands of users who had lost years’ worth of blog entries. Myspace is also home to Myspace Music, which helps major, independent and unsigned artists reach new audiences.

Although the top 8 feature no longer exists, Myspace still allows you to customize your profile. Account types such as the Musician, DJ/Producer and Comedian accounts allow you to upload audio files (WAV, MP3, AIFF, FLAC and AAC) and create albums. You can also customize your stream to show specific types of updates from your connections if you are only interested in photos, text, music, etc.

MySpace Now

July 2014

Integration with Other Channels

When you sign up for an account, you can choose to connect via Facebook or Twitter instead of creating a brand new username and password combination specifically for Myspace. Additionally, Myspace allows you to upload videos directly from YouTube to your profile.

The MySpace App

In addition to having a mobile friendly version of its website, Myspace has a mobile app available for both Android and iPhone users. Myspace Mobile makes it easy to log in to your Myspace account when you’re on the go. The app gives you free access to the world’s largest digital music catalog, allows you to create your own personalized radio station or tune into stations curated by your favorite artists or connections and lets you view your friends’ statuses and moods, activities, friend requests, comments and bulletins. Myspace Mobile even allows you to update your blog.

MySpace Mobile Android App

What Businesses Need to Know

Although Myspace is not as successful as it once was, signing up for an account can still be beneficial to businesses today.

Myspace is fantastic for any brand that is music or entertainment oriented and brands that want to connect with people ages 16-30. A DJ, for instance, could really benefit from having a Myspace account. Myspace claims to be the largest database of free music streaming and downloads, so if you’re a business that supports music in some way, Myspace might work for you. Or if you’re an artist or the manager of a local artist, then you might want to have a Myspace account to support and advertise your business.

Additionally, signing up for a Myspace account and regularly updating the information on it is good for SEO purposes. With a page rank of 9, Myspace can serve as a great social bookmarking tool. In 2012, it was ranked as one of the top 10 social bookmarking sites by Page Rank and Alexa Rank. Social bookmarking not only helps with the creation of backlinks, but increases traffic to your website. 

The most important thing to determine is whether Myspace is right for you.

To read more about Myspace, check out my Prezi.

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