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Justin Timberlake May Save MySpace by Creating an Online Talent Competition

submitted on July 5, 2011 by HouTex in "Sales / Promotions"
Recently, MySpace appeared on a list of brands compiled by 24/7 Wall St. that were likely to disappear by 2012.

Justin Timberlake, who starred in the movie about Facebook called "Social Network," has personally made a financial investment in a once-dominant but now-declining competitor, MySpace, and hopes to return it to the place for the social media generation to find information about their favorite band or hear the latest music.

Justin Timberlake is hoping that he can save the social network by letting it what it does best: become an online venue for finding new talent.

Timberlake's manager said the singer/actor/dancer/business owner is considering a talent competition as one way to breathe life into MySpace. More information about this contest (or any future plans for MySpace) will be shared at a press conference on August 17, 2011. However, it is clear that the focus of MySpace 2.0 will be on new and emerging artists.

With the announcement of Google+, MySpace will have an uphill battle to reclaim social media dominance. Time will tell whether "rebranding" MySpace to be a place to find new music, or a talent competition can save this brand.

  • 118265
    23 14 8
    12 10 2
    Posted by CouponNut on July 6, 2011 [reply] 0 0
    If anyone can do it, its for sure Justin Timberlake can.
  • 118399
    11 9 1
    Posted by lootango on July 7, 2011 [reply] 0 0
    I am definitely a JT fan... but that's a tough one. I didn't even know Myspace was still around.
    • HouTex
      Posted by HouTex on July 7, 2011
      [reply] 1 0
      Here are a few MySpace stats from the Wall Street Journal that reveal their incredible decline. They are down 90% in 2 years!

      * News Corp paid $580 million for MySpace in 2005
      * Offers to buy are under $100 million
      * The site had 7.1 million unique U.S. visitors in April
      * That's down 46% from the same period last year
      * Traffic is down from 70.9 million in April 2009, according to comScore.
      * The News Corp digital division that includes Myspace reported an operating loss of $165 million in the last quarter.
    • 118439
    • lootango
      11 9 1
      Posted by lootango on July 7, 2011
      [reply] 1 0
      Wow! That's a DRASTIC decrease! Yup... they'll be gone soon.

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