Photo: Kim Bhasin, Business Insider
At a panel event during Advertising Week, Tim Vanderhook, co-founder of Specific Media, introduced himself by saying, “We’re the idiots who apparently didn’t know that MySpace was dead.” (Specific Media bought MySpace in June for $35 million.)Advertising Week was the company’s shot at proving it’s still relevant.
MySpace even threw a huge concert at New York’s Best Buy theatre, where we had the chance to catch up with Specific Media‘s executive VP, Jon Schulz. He told us that he was invigorated after a meeting between “big advertisers” and MySpace higher-ups (also including celebrity investor Justin Timberlake) where they discussed “strategic vision.”
He dodged questions about specifics — the company lawyer enjoying drinks nearby didn’t help our quest for more information — but Schulz said to expect “a lot coming in the next few months.”
Which is what shareholders expect, especially since its relaunch party originally scheduled for late September was scrapped because the site’s facelift was taking longer than expected.
Currently MySpace has around 33 million unique U.S. visitors, down 44% from a year earlier, according to comScore Inc. (via the Wall Street Journal). That’s a long way off from Facebook’s 800 million.
In order to steer a company around, leaders must exude confidence. It will be interesting to see what MySpace has planned for the coming months, and if they can still disrupt the social media landscape.
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