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myspace.cmyspace.comom
remixed remixed
Source:
Fast company. Issue 174 April 2013
What do the What do the following following companies have in companies have in common?common?Lycos
NetscapeExciteGeoCities
myspace.com myspace.com portal (old)portal (old)
myspace.comyspace.commIt was purchased by Rupert Murdoch
and News Corp. for 580 million in 2005In 2006 it was the most visited site on
the entire webIn 2011 it was purchased by 35 million
(6% of what news corp. paid for it 6 years ago) by Chris and Tim Vanderhook
It may make a web revival. Can it do it?
myspace facts myspace facts & figures& figures
It offers direct link between musicians and fans
When the Vanderhook brothers bought the site in 2011, it still had 35 million monthly users
Expensive to replicate technology
The largest free music catalog online (52 million songs)
Chris and Tim Chris and Tim VanderhookVanderhookThey are the 4th management team
for myspace.com in 18 monthsSince they have acquired the
company, they have made drastic cuts (mainly in personnel)
They have recruited Justin Timberlake◦He (Timberlake) has done recruiting of
his own with other Hollywood big wigsThey have a different idea for the
“new” myspace
The The visionvision for the new for the new myspace.commyspace.com
A monumental challenge (to turn myspace.com around)
They face stiff competitionThe model they want to promote is
that they want to be a central portal for◦Musicians◦Photographers◦Videographers
They also want to gather data from fans and eventually sell event tickets
myspace vision myspace vision is to be the one is to be the one stop place for:stop place for:Music StreamingPhoto GalleriesMusic VideosWritten ArticlesSharing PlaylistsWin discounts on tickets for
concertsA loyalty program will enable users
to earn discounted merchandise
myspace.com myspace.com portal (new)portal (new)
The Challenge and The Challenge and the Future of the Future of myspace.commyspace.comThe Vanderhook brothers need to
team up with people that are willing to give this brand another chance
According to many analysts, only 20 percent of brands turn around
A resistant society of teens (who may think going back to myspace.com is “not cool”)
Competition from other sites
Lessons to be Lessons to be learnedlearnedAmerica On Line (AOL)JC PenneyEbayOld SpiceMontgomery WardsFedco
Questions for Questions for analysisanalysisWhy do you think myspace.com popularity
fell?Do you think that the new myspace.com
can make a comeback as a social media leader? Why or why not?
Will you go back to myspace.com, why or why not?
Look for two examples of other online or brick and mortar companies that have gone out of business and have tried to make a comeback, explain what happened and what did they do to make a comeback?
References / SourcesReferences / Sourceshttp://findlogo.net/images/L/lycos
%20logo.jpghttp://www.digitlab.co.za/files/20
12/06/geocities-web.jpeg