Does 1 Million New Users Mean MySpace Is Coming Back?
Yesterday something occurred that we haven’t seen in a long, long time. That rare creature was positive news about the oft-maligned MySpace. The latest incarnation that is Justin Timberlake fueled (heck, he played Sean Parker in The Social Network so why not?!) project registered an increase of 1 million new users in January. Not bad considering most charts about people using MySpace look like a backwards hockey stick.
When MySpace changed ownership last June, it was in free fall. MySpace, the pioneering social media and music site, which at its peak in 2008 was attracting 75.9 million unique visitors a month, was down to about 33 million, according to comScore, and it was bleeding users every month.
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.
OK, so it’s not all great news but maybe the free fall has stopped. As with most things in business, when you have something that people actual can use (a new music player like MySpace does) and you are working with, rather than in competition with, the social media behemoths Facebook and Twitter (oh, we didn’t mention that?) then you may stand a chance.
Mr. 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.
It’s that last bit of information that caught my attention. CBSNews reports
MySpace has about 42 million songs, while a recent count of Spotify’s tracks are about 15 million. Rhapsody has about 14 million.
Those are real numbers to consider. I have not checked any of this out personally but considering all the press that Spotify has merited for what it gives the music lover, you have to think that a library of music that is nearly three times the size of Spotify’s is at least something to take into account.
So based on this, could you see yourself using MySpace, if for nothing else, its music library? We all know what music leads to these days as well: sharing. Maybe MySpace has something here? What’s your take?
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