MySpace is bought, Justin Timberlake takes the reins and the technology puts the soul back into the music industry.
Amazing news for the music industry and social media alike! Not only has the original social network, MySpace been bought but Justin Timberlake has come in as Creative Director of the company too. This means that the once thought to be defunct MySpace is going to undergo a major revival under ownership of Specific Media and direction of Timberlake.
While some may think that MySpace is dead and buried, they are due to be found seriously wrong. In fact, Specific Media may just have done the music industry the biggest service of the century by buying the social network for a mere $35 million; $545 million less than what News Corp. paid back in 2005.
When MySpace came out under the ownership of News Corp it was a brilliant concept with all the wrong motivation. As a social network that appeals to a niche market, the music industry, an essentially creative constitution, the problem with how it was run is down to News Corp being only interested in generating revenue. As social media insights have developed and matured over the years, brands are beginning to understand that social media is a means for building relationships and allowing for quality interaction with consumers and clients. Considering interaction and content are what make up the new face of marketing through social media platforms, a company like Specific Media are going to put together a plan for success for MySpace. Specific Media follows their self described motto of co-ordinating media so it, "enables advertisers to connect with consumers in meaningful, impactful and relevant ways."
Social media, movie and music mogul, Justin Timberlake couldn't be more of the man for the job as Creative Director. With his finger on the pulse of creative currency, Timberlake stated,
"There's a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect. MySpace has the potential to be that place".
While Facebook may have 700 million users and MySpace sitting currently on 77 million, there is no need to think that this social network will do any less than succeed. Why? Well, social media like the internet as a mass medium has avalanched users with information; rendering a lot of the information meaningless as it could never be computed and comprehended by the individual without segmentation. What MySpace will be doing is hinging its entire concept on the music industry.
It will also be taking the right kind of attitude into this new phase, as it will concerned with providing a tool for interaction amongst the musically involved. In a world that has been fraught with plastic capitalism for over fifty years, particularly the artistic scene which has felt the blow of tasteless money motivation very harshly, some soul is what is really needed here.
Strange that it would be the digital evolution of social media that would restore some of the meaning to the music industry but there it is. What will really pull this social network together and literally form the soul of this company will be the content. Those who actively want to engage, share and appreciate the music will be the ones who create the content for MySpace. MySpace will become the vessel for a new language of music amongst users. It will allow for collaboration, distribution, discovery, interaction, appreciation and involvement in the music scene and essentially allow for a certain purity and quality to evolve through social media.
The democracy of social media will allow for developing countries and those far from the likes of Sony to have the same platform as those who are already established. It will draw a criss-cross of routes across the map of cyber-space for music to utilise in different ways. Welcome back MySpace as a mature social network that has evolved and reconnected with the world through a language of music.