Once viewed as the biggest power in the world of social media marketing, many currently view MySpace as a failed precursor to Facebook.
Following its sale to Specific Media, in a deal worth $35m – a far cry from its multi-billion dollar valuation just a few short years ago – MySpace is set to revamp its current format, according to a report published by Advertising Age.
The plan follows the appointment of new senior vice-president of global marketing, Al Dejewski.
Dejewski, formerly of PepsiCo, is hoping promotional partners – in the form of big name brands and high-profile celebrities such as shareholder Justin Timberlake – will entice users with currently dormant or inactive profiles back to the social networking site – as well as attracting new users.
He said: “We have over 70 million active users globally on a monthly basis, and in the US it’s in the 30 [million] to 40 million range right now.
Remaining optimistic about the new beginning, Dejewski spoke positively of the current figures, adding: “It’s no small database by any means. While we may have lost some traction to people like Facebook, things like LinkedIn are a very different proposition in my mind. We have a very broad reach and footprint today and one we can capitalise upon, no question about it.”
A forthcoming advertising campaign to mark the re-launch, through print, radio and digital mediums, is expected to come to fruition in the near future.
Social media news brought to you directly from ContentVOX, the news feed specialists.