MySpace has finished being a social network and a direct rival to Facebook, according to its chief executive, Mike Jones.Talking to The Telegraph at the Monaco Media Forum, Jones said the bold statement: “MySpace is a not a social network anymore. It is now a social entertainment destination.”
The troubled site, which saw its UK audience halve to 3.3 million monthly visitors in July earlier this year, is pinning its hopes of renewed success with a return to its music and content roots.
Two weeks ago, the redesigned MySpace, which focuses a lot more around content, rather than social networking, launched in the US and will go live in the UK in mid November. Everything has been changed; right down to the logo – which is now the word 'My' and an extended underscore to represent the ‘Space’.
MySpace, founded in 2003, at its peak had more than 100 million registered and active members, but its audience has been declining since the rise of Facebook in 2008.
It has come under increasing pressure from its parent News Corporation, which bought the site in 2005 for $580 million (£351 million) in 2005, to reverse its ailing fortunes.
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