Myspace Rebrand – Too little too late in light of decreased visitors and market share?

According to figures from web analyst Alexa, Myspace pageviews have dwindled by almost 97% in the last 2 years.

Daily pageviews have plummeted from 2.2% of the market in Quarter 4 2008 to a mere 0.08 in Quarter 4 2010.

Naturally, Alexa information should be taken with a pinch of salt and it is predominantly US visitor data however the dramatic drop in pageviews (and visitor numbers in general) is supported by data from ComScore, who reported that traffic to declined by 49% from 6.5 million visitors (May 2009) to just 3.3 million (May 2010).

Speaking personally, I do recall a time when Myspace was the weapon of choice for my peers communicating online, but that period is very much behind us and in light of more recent data pertaining to newcomer Twitter surpassing Myspace for unique visitors last month (October 2010) for the first time, the former web giant will have to adapt to survive and reposition itself within the market.

The new Myspace contains an element of this repositioning with it’s “if you can’t beat em’ join em” Facebook Mashup element, which allows syndication between accounts.  For some commentators this is a desperate final roll of the dice.

Myspace and many onlookers I am sure will eagerly await the Digital Year in Review 2010 published by Comscore in around February 2011.

Myspace has struggled of late to keep up with the pack in a new online environment, and although the new rebrand appears to be a well thought out contemporary look, I believe the site has just too much ground to make up.

Founded in 2003, MySpace saw a huge year-on-year growth period prompting a $589 million takeover in 2005 by News Corp. The site has seen visitor numbers fall though, in the shadow of Facebook’s meteoric rise.

The business has also struggled internally, losing two CEOs in the last year alone with Owen Van Natta quitting in February 2010, and Jason Hirschhorn following in June.

The Rebrand

Now focusing its traditional strongpoint (Music and Video content), Myspace have invested in a new music streaming system and rebrand, to try and cope with the ever improving Spotify, Napster, Last FM and Grooveshark.  Not to mention the Youtube bohemoth.

In a further effort to modernise, Myspace installed traffic reporting modules into music profiles, and this may perhaps prove a fateful move, as artists can now accurately see just how many (or how few) visitors their profile receives.

Personally speaking again, I do quite like the rebrand and even at a fraction of 2008 visitor numbers their daily reach is still vast, but as Yahoo and AOL have done before them, I believe Myspace will need to adapt to a new life as a small fish in a very big pond.

Data Source: The comScore Digital Year in Review 2009

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    3 Responses to “Myspace Rebrand – Too little too late in light of decreased visitors and market share?”

    1. [...] significant drops in traffic by tapping into Facebook’s users. Some reports claim Myspace has lost almost 97 per cent of its pageviews over the last two [...]

    2. [...] and judge for yourself, via the magic of Spotify and Myspace (or ‘My_’ most ridiculous rebrand [...]

    3. Michelle Gerrard says:

      “You get the impression MySpace was conceived and built with no real thought about the future, and no real idea that it could ever become as successful as it did. Once user counts started to rocket the owners didn’t know what to do.”

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