With shrinking audiences, deep layoffs and two management shake-ups, MySpace, the one-time leader in Internet social networking for musicians and music-lovers, decides to overhaul site to rekindle growth. With competition from booming social networks like Facebook and Twitter, and Google Inc jumping into the fray, MySpace hopes to become the first social network to regain its mass appeal.
The revamp of the site now being introduced is in keeping with the strategy all three executives devised over the past 11 months They pulled the curtain back on a new version of the site that will be rolled out in installments over coming weeks and months. The new site recasts MySpace more strongly around its music and media content, with features such as the ability to listen to a music playlist based on songs that other MySpace users are sharing in their stream of updates.
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