My Space was the most popular social network on the Internet, until Facebook came along and stole its thunder. In May of this year, Facebook outrivale...
My Space was the most popular social network on the Internet, until Facebook came along and stole its thunder. In May of this year, Facebook outrivaled My Space by holding a record of 70.28 million users. My Space never recovered from that slump and in June, it was forced to lay off 30% of its staff. Twitter for its micro blogging qualities was also guilty for stealing some of My Space’s limelight. My Space seems to be in the process of disappearing altogether unless it can make a phenomenal comeback.
But then it is possible for My Space to do such a thing if it finds a way of reinventing itself. My Space recently hired Owen Van Natta as CEO, who was a former Amazon executive and vice president of operations at Facebook. Talk about keeping your enemies closer! My Space also recruited Wenda Harris Millard to monitor My Space’s advertisement sales on a daily basis. Wenda previously managed Martha Stewart Living Co. and also worked with Yahoo before joining Media Link. Media Link is the consultancy that is currently working on My Space’s revival marketing campaign.
Last week, My Space also bought over iLike, a popular music application for an unrevealed amount. It’s been rumored to have been bought over at around $20 million! iLike is an application that allows users to share music playlists and receive concert and ticket updates. Ironically, iLike became popular on Facebook and was one of the first applications to be introduced on there. This application was bought over by the corporation so My Space members could implement iLike on their profiles. My Space has also revealed that they have plans to upgrade the iLike application to include games and videos. For the time being, My Space has no plans of removing the iLike application from other social networks.
Facebook has not been sitting idle either. There were rumors that Facebook unsuccessfully tried to buy out Twitter earlier on in the year. However just last week, Facebook successfully bought Friend Feed, which was originally manned and run by Google. Friend Feed is not a social network like Facebook, Twitter or My Space. It’s referred to by Wikipedia as a real-time feed aggregator that consolidates the updates from social media and Social Networking websites, social bookmarking websites, blogs and micro-blogging updates, as well as any other type of RSS/ Atom feed.
Last week, My Space was busy promoting the soundtrack of the soon to be released movie, “Where The Wild Things Are” which is based upon the famous children’s book by Maurice Sendak. This movie is set to be released in theatres on October 16th, and used My Space to reveal its first single on the soundtrack, “All Is Love” by Karen O. Exclusive Pre-releases such as these will create the hype that My Space needs to regain its popularity among social networks. If My Space is used in other Social Media Optimization campaigns such as this, it will be able to regain consistent traffic and give users a reason to keep visiting. With so many constant shifts in power in the social networking world, one thing is for sure. If you sit idle you’re bound to be overthrown! I guess we will have to wait, watch and see, if My Space is strong enough to reclaim their title of the most popular social network on the Internet. Stay tuned…
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