Is this the end of Myspace?

Is Myspace finally dead and buried?
The Beginnings of a Downfall

MySpace was founded by former Friendster members  Chris DeWolfe and  Tom Anderson (a man at one time everyones buddy) in 2003. They saw an opportunity to beat Friendster with more options and less restrictions for social network users. In August 2003 andWithin 10 days, the first version of Myspace was ready for launch, implemented using ColdFusion (a simple and easy-to-use programming language). They already had a complete infrastructure of finance, human resources, technical expertise, bandwidth, and server capacity was available for the site, right out of the gate, so the Myspace team was not distracted with typical start-up issues however this early advantage would prove to be a major downfall in the future of Myspace. DeWolfe and Anderson were aware of ColdFusion's limitations compared to open-source code software favoured by most developers and by 2005 even though it was clear that ColdFusion was insufficient to keep up with rival development, it was too late to switch site architecture since that would have delayed Myspace for a year or two just as it was exploding in popularity The products division had introduced many features like instant messaging, classifieds, video player, music player, virtual karaoke machine, a self-serve advertising platform, profile editing tools, security systems, privacy filters, and Myspace book lists, among others, however these were often filled with bugs and slow as there was insufficient testing and there was a'lot of vandalism, phishing, malware and spam (like those random friend requests) and a whole load of adverts. which in 2006 led to Connecticut Attorney General Richard Blumenthal launching an investigation into minors' exposure to pornography because Myspace could not build an effective spam filter which of course led to media outrage and earned the site the unwanted name of being a "Vortex of Perversion"

Myspace 2011

In March comScore released market research figures suggesting Myspace lost 10 million users between January and February and fallen from 95 million to 63 million unique users in the last 12 months these figures are making advertisers unwilling to commit to any long term deals with the site. In February News Corp who bought the site in July 2005 for $580 million put Myspace up for sale and in June 29th Myspace who at it's height employed 1600 people and now 400 was acquired by Specific Media (Justin Timberlake is a shareholder) for a comparatively measly sum of $35 million and they have their work cut out as the sites Alexa rank as of June is 88.

The Future

What does the future hold for Myspace with Justin Timberlake at the helm?
Early speculation suggests that there will be an online talent show to try and revive the fortunes of the site with plenty of speculation to come before the August 17th press conference.

My thoughts on the future of Myspace is that it is all fine and well trying to revive the old boy and yes music should be at the heart of the site but is another X Factor type talent show really necessary? I don't think so! and I don't think many other people will!. I think since Myspace have different versions of the site for different countries then it would be a better idea if they took a leaf out of Norwegian state owned broadcaster NRK's book as they run a yearly competition called NRK Urørt (NRK Untouched) Ironically known as the Norwegian Myspace, This is a site where musicians have the opportunity to upload self-produced music and presentations and the general public can listen, view and comment on all the music so unsigned bands of all genres are centre stage and in Norway they also get a prime time slot on TV and airplay on national radio and yes the winning band does get a record deal!, If you put this in perspective for Myspace this would give the site more exposure and would encourage people back and also it would once again make Myspace the place you search "that band I heard the other day" rather than Last.FM and they would once again be a standard bearer for music online.

No Myspace should not try and compete with Facebook and Google+ it should be something different something unique!

What do you think about the deal? and what do you think Specific Media should do with Myspace? your thoughts are more than welcome!

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