New MySpace owners turn things around ever so slightly

Feb 13, 2012
0
New MySpace owners turn things around ever so slightly

I doubt I'm the only one that thought MySpace was pretty much dead. MySpace was once the biggest and most popular social networking site out there. Back in 2008 during the MySpace heyday, the site racked up 75.9 million unique visitors per month. Back in June when investors bought the site from News Corporation, it was down to 33 million visitors per month.

The new owners at MySpace are Tim and Chris Vanderhook, and they plunked down $35 million to get their names on the deed. News Corp had paid $580 million for the site in 2005 and proceeded to run it into the ground admittedly making every mistake possible. The new owners have been working to turn MySpace around by emphasizing the site as music and entertainment hub, and apparently it's working, to some extent, so far.

The NYT reports that MySpace is set to offer its first good news in a long while. The good news is that MySpace has attracted 1 million new users since the Vanderhooks took the site over. The million new users have come to MySpace since December, 2011, which was the same month MySpace unveiled a new music player. According to Chris Vanderhook, MySpace went from zero sign ups per day to 40,000 per day with the unveiling of the new music player. It's also worth noting that the Vanderhooks other partner is Justin Timberlake.

[via NYT]


Must Read Bits & Bytes