Yoav Tchelet
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The new Myspace is here – will it work?

For those of you that don’t know, Myspace has been very busy with a complete overhaul of its once popular social networking site.

Having been overshadowed by Facebook over the last few years, Myspace has struggled to provide a unique selling proposition over its more popular neighbour.

Myspace’s new focus – the “Y Generation”, with a major focus on social entertainment. One issue is the narrower focus compared to the likes of Facebook, Generation Y users are more limited than the broader focus a major social networking site such as Facebook has.

I think Myspace has always had an edge in the entertainment space, especially its focus on bands and music. Will their strategy work? Possibly, or possibly not – I don’t think that Myspace has much of a choice. By staying the course of competing head on with Facebook, I think would have spelled the demise of the site in the near future. So this may be the golden egg Myspace needs to dig themselves out of their situation and offer a unique value proposition to the general social networking sites such as Facebook.

What do you think?

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