Recently, MySpace appeared on a list of brands compiled by 24/7 Wall St. that were likely to disappear by 2012. http://www.buxr.com/topic/new-.....-2012_5261
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.