News Corp. bought MySpace for $580 million in 2005 but it has been lagging behind Facebook’s continued growth. This year, News Corp is planning to relaunch MySpace and is focusing on younger audience for growth.
News Corp. chief digital officer Jon Miller announced the company’s plan for MySpace Relaunch, a former leading social networking site. Miller proudly added that MySpace still attracts around 65 to 70 million unique users a month in the United States alone.
MySpace has recently reworked its site as a platform for musicians and their fans. Miller revealed that the site intends to “go younger, go youthful” and put emphasis on “creativity and self-expression.” He also added that several products are in the works and ready to be rolled out in the near future. It will be a facial makeover, total usability and a better gaming destination for users of MySpace, according to the chief digital officer.