So here I was thinking that Myspace took it’s place in the social media graveyard next to Bebo and Google Buzz. Apparently not, as I discovered last week that Myspace, which was bought for $580 million in 2005 and sold in 2011 for $35 million, has made a come back with the help of pop star Justin Timberlake’s backing. According to some, JT’s investment makes perfect sense as all that’s left of Myspace is musicians and bands trying to gain exposure and build a fan base from it’s skeleton number of users.
Is it just me or does that microphone look like a gigantic mole?
Despite the publics waning interest in the website, Myspace is still the largest online music streaming service in the world with over 50 million tracks. The new site was launched last week, and while it’s new look may seem rather welcoming and it’s newly found pop star backing may rekindle hope of internet domination, the brand have already landed themselves in hot water.
Merlin, who represents over a thousand independent labels across the globe has accused Myspace of using a number of tracks from over 100 of it’s labels without permission. Tracks that should have been removed after their contract with Myspace expired in 2011.
Charles Caldas, chief executive of Merlin had the following to say: “While it’s nice that Mr. Timberlake is launching his service on this platform, and acting as an advocate for the platform, on the other hand his peers as artists are being exploited without permission and not getting remuneration for it.”
Either way, I found myself checking out the revamped site, and although the music industry, young bands specifically, could use all the help they can get, I don’t see it regaining it’s standing as the Myspace of old. 2008 old, when the site peaked at 76 million users.
What do you say? Are Merlin overreacting or trying for some piggyback advertising off the re-launched brand or is Myspace still not relevant enough for you to care?