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What a Vevo-Myspace Joint Venture Could Mean for Music and Social Media

March 30, 2011

It’s been reported that music video website Vevo is currently in talks with News Corp. over the possible exchange of the once-on-top social networking giant Myspace for a stake in a new venture.

Myspace has been gravitating towards a niche audience of musicians, band folks and music lovers; emphasizing music and other media over the last few years as it continues to lose it’s core user base by the millions. As result, such a move would certainly make sense.

This trend in the music crowd remaining loyal to MySpace has to do with the features long provided by Myspace that Facebook notably lacks, such as a native music player that allows individual users to set the mood on their profile with their favorite song and bands and musicians to provide entire playlists for perusal. Although the bulk of social media users looking for nothing more than an efficient way to connect to others have moved over to Facebook, Myspace still remains one of the best sites for following and reading news about your favorite band.

Despite a redesign and inclusion of new media and entertainment features in 2010, the site continues to shrink in its current state. In January it was confirmed that News Corp. intended to offload the site after also laying off 47% of its staff – ouch.

A merger with Vevo would seal Myspace’s vision as a music and entertainment-centric social networking site and could be just what just what they need to get kicked back into gear.

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One Comment
  1. peterthorburn permalink

    Myspace has a certain stigma to it that would take a total rebranding to get older (non-teenagers) back onto the site. I wonder if a buyout could accomplish that?.. As we have been taught lately myspace is not the place to be a part of as a professional.

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