MySpace still alive with 1 million new users

Months after appearing to be in its death throes, social network MySpace appears to be showing signs of new life now that it is under new management.

A report on The New York Times said MySpace has signed up one million new users since it introduced a new music player last December.

“We went from zero signups per day to 40,000,” it quoted Chris Vanderhook, the company’s chief operating officer, as saying.

Tim and Chris Vanderhook bought the site for $35 million from News Corp., which had paid $580 million for it in 2005.

Citing data released by comScore last week, the NYT said monthly traffic on MySpace rose in January, the first increase in almost a year.

The traffic was at 25.1 million, an improvement of four percent from the month before, but it was still down almost a quarter from when the Vanderhooks bought MySpace with the singer-actor Justin Timberlake.

MySpace appeared to be in free fall when it changed ownership last June. At its peak, it had attracted 75.9 million unique visitors a month in 2008.

The NYT report said Vanderhook attributes the growth to MySpace’s integration with Facebook and Twitter, and the size of its music library.

It said that since MySpace has full licensing deals with thousands of record labels and songs from unsigned acts, MySpace has a library of 42 million tracks, supposedly several times more than Spotify or Rhapsody.

MySpace TV

Last month, MySpace announced a deal with Panasonic for MySpace TV, which will allow social sharing and commenting on music videos and TV shows, the NYT report said.

Vanderhook said this is not to compete with Facebook as a social network, but to be a conduit for music and other forms of entertainment that can be shared through other networks. — TJD, GMA News

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