Remember MySpace? Well, it’s still around, sort of. With a new focus and a new look, the social network is hoping to make a comeback. The site has relaunched with a tight focus around music and entertainment, hoping to regain the momentum it has lost to Twitter and Facebook in the last few years, according to the New York Times.
“Our focus is social entertainment,” said Michael Jones, president of MySpace. “Niche players have long staying power.”
Jones made it clear that the new MySpace is meant to compliment services like Facebook and Twitter, not compete with them, but a quick look at the new site tells a different story. Upon login, the MySpace main page very closely mimics its rivals in design and functionality, complete with news feed and status updates. To accomplish this, MySpace had to completely remake its technical back-end, which was one of the many problems that has held the site back.
MySpace has been on a rough ride in the past few years. Michael Jones is the fourth chief executive of the social site since April 2009, which has seen its ad revenue fall from $470 million in 2009 to an estimated $297 million in 2010. Facebook’s revenue is trending the opposite direction, rising from $665 million in 2009 to an expected $1.7 billion in 2010.
The new version of MySpace will begin a gradual roll out today. All users should have access to the new features and design by mid-November.
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