MySpace to announce it has added one million new users
The new owners of MySpace, Specific Media which partnered with Justin Timberlake to buy the one time social network leader in June 2011, are to reveal that the bleed of users at the refocused social networking site has abated.
MySpace, which once had a mighty 75 million members, was down to 33 million last year and falling, but it has since it was bought added one million new members.
That’s right MySpace is growing again. It is proving itself to be an unexpected digital survivor, no Boo.com fate seems to await it. This all suggests that the $35m brothers Tim, Chris and Russell Vanderhook paid for MySpace is not good money going after bad. News Corporation bought MySpace in 2005 for $580m taking a heavy hit with its sale.
The growth at MySpace has come since it introduced a new music player as part of the plan to focus the site on its historic links to live music and performing artists. It seems to be paying off and traffic is again on the rise albeit from a lower base.
“Since December, when it introduced a new music player, the site has signed up one million new users, the company is expected to announce on Monday. And according to data released by comScore last week, monthly traffic on MySpace rose in January, the first increase in almost a year; at 25.1 million, it was an improvement of 4 percent from the month before. But it was still down almost a quarter from when the Vanderhooks bought MySpace with the singer and actor Justin Timberlake.
“We went from zero signups per day to 40,000,” said Chris Vanderhook, the company’s chief operating officer. Vanderhook attributes the growth to MySpace’s integration with Facebook and Twitter, and the size of its music library. Since it still has full licensing deals with thousands of record labels, as well as songs from untold numbers of unsigned acts, MySpace has a library of 42 million tracks, several times more than Spotify or Rhapsody, the New York Times reports.