The news follows a shake-up at Myspace, the formerly trailblazing website, with new owners (including a certain Justin Timberlake) and a fresh approach which diverted it from direct competition with ubiquitous challenger Facebook.“Myspace is building meaningful social entertainment experience around content, where consumers can share and discover the music they love,” says Myspace chief executive Tim Vanderhook. “Consumers are getting excited about Myspace again – a testament to a great music product.” He adds that the site is attracting 40,000 fresh sign-ups a day since a re-launch in December which introduced a sophisticated music player to complement the site’s enormous archive of songs. Myspace was once the world’s largest social media website, with more that 75m unique visitors per month as recently as 2008. Since then Facebook has steamrollered the competition and now claims an audience of more than 850m – meanwhile Myspace slumped to just 24m last year. The site’s refocus is seen as a threat to newer music-orientated rivals such as Spotify, which has a music library of just 15m songs compared to Myspace’s 40m.
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