Justin Timberlake buys a stake in Myspace. Can he bring the sexy back?By now, I'm sure that you've heard how Justin Timberlake has teamed up with Specific Media to purchase Myspace for a whopping $35 million. The deal has many in the Tech industry shaking their heads and wondering if he has a plan to bring the sexy back to the social networking site, or if Myspace is going to be another "malfuction" for the star. Although he isn't going to be running the site, it looks like this is more than just a vanity partnership for him. Specific Media is partnering with Timberlake in the purchase, and they will be running the new site. Although the plans aren't official just yet, most experts believe that Specific Media and Timberlake both want to make the site a sort of talent-search engine and a place for fans to connect with their favorite bands and musicians while becoming familiar with new music as well. The collaboration with Timberlake on this project was a brilliant move by Specific Media, as it brings some credibility to the music site, in addition to some much needed media attention. As for Justin, he is the "go to guy" for bringing sexy back, and that is exactly what Myspace needs in order to stay relevant. In a recent article in the Los Angeles Times, the CEO of Specific Media had this to say about their partnership with Timberlake:
"Justin is a tremendously bright guy who is really passionate about the opportunity for artists to build a community with fans," Vanderhook said. "He's excited about the platform and the ability to interact with his fans. He's well aware of the all the unique opportunities that digital media affords someone like him. He will use the platform himself and show other artists how to use it"The idea of mixing celebrity with social networking is one that is really starting to catch on. Recently, the music sharing site Spotify teamed up with Ashton Kutcher to do a media blitz for their premium service. In that campaign, Ashton posted on his social networking accounts about his love for Spotify and how excited he was that their service was going to be opened up to American subscribers. Then, he offered to share some invitations with his "friends" and by the following day, Ashton had invited anyone who requested an invitation. Spotify's goal was to generate a buzz about their site and get people who normally wouldn't be interested in trying the service to sign up, even if it just so that they could say that Ashton Kutcher invited them. (I don't judge - I got an invite from Ashton too). Of course, many Spotify users will be surprised to learn that even though having an account is free, in order to do most things, you have to pay a monthly subscription fee.
It remains to be seen how Myspace will fare under the new ownership. A press conference announcing the new direction for the site is planned for August 14th. So far, the only real information that Specific Media has released is their plan to lay off 50% of the current Myspace staff. I can't help but wonder if how it would feel to be fired by Justin Timberlake. Of course, we all know that he wouldn't do the firing personally. Let's just hope that his instructions for issuing pink slips and severance packages won't start with "Step 1- Cut a hole in a Box."
What do you think about the new Myspace ownership? Do you think that Justin can bring the sexy back, or do you think that Myspace is on it's last leg? Please post your thoughts in the comments.
By Melissa Kennedy- Melissa is a 9 year blog veteran and a freelance writer for TechCareersBlog. Along with helping others find the job of their dreams, she enjoys computer geekery, raising a teenager, supporting her local library, writing about herself in the third person and working on her next novel.
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