MySpace clings to relevance as culture zone for the hip
March 23rd, 2010 | by Jen |Facebook thumped it, and Twitter threatens it as a source for entertainment news and real-time searches.
But MySpace, nestled in the entertainment capital of the world, thinks it can survive — even thrive — as a repository for all things music, “Avatar” and “Twilight” for the under-35 crowd.
MySpace is moving back to its original DNA: appealing to self-expressive, creative under-35-year-olds who are into games, music and movies. More than half of MySpace’s estimated 100 million users are 25 and younger, according to market researcher ComScore. The 13-to-34-year-old demographic spends 84 percent of all user time on the service.
The rebranding is illustrated in design mockups splashed across the walls of a user-experience lab: simple, clean pages with vibrant looks designed to draw artists, hard-core social media users, brand managers and others.
MySpace has reinvented itself in many ways:
New user home pages, released last month, are heavy on live personal content, but without the clutter once associated with the original MySpace design.
Forthcoming profiles for celebrities such as Lady Gaga and Angelina Jolie are easier to navigate and offer encyclopedic data on their subjects.
Social-gaming firm Playdom is helping MySpace reinvigorate its gaming channel. This month, it launches Wild Ones, a shoot-’em-up already available on Facebook, on MySpace. More games, including ones exclusive to MySpace, are on the way.
Through its constant tweets on Twitter, MySpace has developed into a heavy-duty entertainment news service for music, celebrities and youth-oriented movies such as “New Moon” and “Alice in Wonderland.”
Since Facebook’s audience overtook MySpace last May — 70.3 million unique users vs. 70.2 million — it has widened its lead dramatically. Today, Facebook boasts 400 million members, about four times as many as MySpace.
As audiences melt from MySpace, so do marketers, said researcher eMarketer. Facebook will surpass MySpace in advertising revenue this year for the first time.
EMarketer estimates ad spending on MySpace will fall 21 percent this year, to $385 million, worldwide. It expects Facebook to rake in $605 million in ads worldwide this year, up 39 percent from 2009. If not for a three-year, $900 million search deal with Google that is set to expire by midyear, MySpace’s revenue would be lower.
MySpace remains a force in music however. More than 13 million bands, from Pearl Jam to garage bands, find it a vibrant tool to communicate with fans.