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MySpace: Irrelevant, or rising Phoenix?

Published: February 2013 · Publisher: MarketLine
Launched across the US in January 2004, MySpace gained 5 million users 11 months later. Seeing MySpace’s potential, News Corp. purchased the social network site’s parent company for $580m in July 2005. Exponential growth occurred, however by ...
Report Type Case Studies
Language English
Format Electronic (PDF)
Pages22
Frequency Updated Annually
Availability Will be emailed within 1 business day
Reference No. 0109-2815
Price € 369,00
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Introduction

Launched across the US in January 2004, MySpace gained 5 million users 11 months later. Seeing MySpace’s potential, News Corp. purchased the social network site’s parent company for $580m in July 2005. Exponential growth occurred, however by 2008 the site's fortunes had reversed resulting in a dramatic decline. Specific Media purchased the site, attempting to resurrect it as a place for creatives.

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Highlights

eUniverse, MySpace's parent company, was purchased by News Corp. for $580m in July 2005. MySpace was then sold for just $35m in June 2011. Once the world's most popular social network before being overtaken by Facebook. Heavily criticized for its advert heavy user interface once News Corp. began monetizing the site, alienating many of its users.

Your key questions answered

* What went wrong with MySpace?
* What is the new MySpace doing to differentiate itself from its competitors?
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OVERVIEW
Catalyst
Summary
MYSPACE’S EARLY BEGINNINGS
Site’s popularity results in viral growth
Acquisition by News Corporation
MYSPACE EXPERIENCES GROWTH
Under News Corp.’s stewardship, MySpace sees success
Advertising deal with Google
MySpace purchases Photobucket
MySpace Music
DIFFICULTIES FOR MYSPACE
MySpace’s fortunes take a turn for the worse
Photobucket is sold
Landmark Google deal comes to an end
MySpace lays off staff
MySpace sold
MYSPACE RE-LAUNCHES
Specific Media re-builds MySpace
New MySpace undergoes beta testing
A place for the creative community
New MySpace launches to the public
Winning back users
New MySpace runs into problems days after its launch
CONCLUSIONS
Innovation, differentiation, and mobile platform key to success
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Copyright © FriedlNet. You may share using our tools Please don't cut content from FriedlNet and redistribute by email or post to the web.