Skip to main content

Myspace up for sale as Myspace Music President Courtney Holt steps down

myspace-musicThe slow death of Myspace continued this week with the president of Myspace Music, Courtney Holt, stepping down from his post, reports AllThingsDigital. The news of Holt’s departure comes amid rumors that Myspace parent company News Corp. has kicked off the process of selling the failing social media site.

According to a memo to the Myspace staff written by Myspace CEO Mike Jones, Holt will transition to a “key advisor” position to both Myspace and News Corp. It is not yet clear whether Holt will take an executive-level position at any other company, though such a move seems likely.

Myspace Music launched in 2008 as a joint venture between Myspace and a variety of major music labels. It remains one of the few sites that offers free, legal music streaming. And as anyone with a friend in a band knows, it has been one of the primary places for music group — mostly of the unknown variety — to go when they want to connect with fans. But it has still had trouble turning its traffic into profit.

Since this time last year, Myspace Music’s visitor number have dropped 46 percent, to 17 million unique US visitors per month. Myspace as a whole brought in 44.8 million unique visitors in January, reports the Wall Street Journal, a drop of 36 percent, according to numbers from comScore.

Last November, News Corp. COO Chase Carey admitted that News Corp. was open to the idea of selling the social networking site, which it purchased for $580 million in 2005. The news out today shows that about 20 parties, mostly private equity and venture capital entities, have show interest in purchasing Myspace.

As far as streaming music services are concerned, the sector seems only to be growing. Apple is reportedly planning to expand its iTunes service to allow users to store their music collections online, and stream the content to their Apple devices. Google is also looking into launching a music-streaming service. And UK-based music streaming site Spotify is rumored to be looking to introduce unlimited subscriptions to users in the US sometime in the near future.

Editors' Recommendations

Andrew Couts
Former Digital Trends Contributor
Features Editor for Digital Trends, Andrew Couts covers a wide swath of consumer technology topics, with particular focus on…
Van Natta Steps Down as MySpace CEO

Owen Van Natta has stepped down as CEO of social networking site MySpace, effective immediately. The announcement comes less than a year after Van Natta took over as MySpace's top executive; he will be replaced as CEO by two executives acting as co-Presidents, former COO Mike Jones and Chief Product Officer Jason Hirschhorn. Van Natta, Jones, and Hirschhorn all joined MySpace in April of 2009.

No specific reasons were given for Van Natta's departure, save for this statement by News Corp's Digital Media CEO Jon Miller: Talking to Owen about his priorities both personally and professionally going forward, we both agreed that it was best for him to step down at this time."

Read more
Save over $100 on this SanDisk rugged 2TB external SSD
SanDisk Extreme Portable SSD sitting next to keys.

Whether it's important files for work or memorable photos and videos of your personal life, you'll want to keep them in a durable storage device like the SanDisk Extreme Portable SSD. If you don't own an external SSD like this one yet, here's your chance to buy it for nearly half its original price as the 2TB model is on sale from Best Buy for $122 instead of $225, for savings of $103. You shouldn't waste time thinking about it as the deal may disappear at any moment, after which we're not sure when it will return.

Why you should buy the SanDisk Extreme Portable SSD 2TB
The SanDisk Extreme Portable SSD is a rugged external SSD that's built to protect all kinds of digital files. It's the SanDisk Extreme Pro with data transfer speeds of up to 2,000 MBps that's featured in our roundup of the best external hard drives as the best portable external hard drive, but the SanDisk Extreme is practically the same portable SSD, albeit with read speeds of up to 1,050 MBps and write speeds of up to 1,000 MBps. The speed difference is an acceptable trade-off for the lower price of the SanDisk Extreme, though it will still be pretty quick for most people since SSDs can process data faster than HDDs, according to our guide on how to buy an external hard drive.

Read more
Nvidia is bringing ChatGPT-style AI to video games, and I’m already worried
Nvidia CEO delivering a keynote at Computex.

Nvidia is bringing generative AI to video games. Announced during its Computex 2023 keynote, Nvidia ACE is a new platform that allows developers to use generative AI to power conversations with characters in games.

Think ChatGPT, but instead of a general-purpose chatbot, you get a chatbot with a specific backstory and lore. Nvidia is stressing that flexibility is one of the most important aspects of ACE, as it will allow characters to have a fleshed-out backstory that informs their responses and keeps them from getting too off-topic. The company's recently announced NeMo Guardrails play a role in this, directing the conversation away from topics the developer doesn't intend.

Read more