Now Playing – Our video of the week

Great video about the fate of MySpace. Remember MySpace? Well the industry “thought leaders” think that it is dead and most of us have fallen in love with the hype around Twitter, Facebook and even Foursquare. Certainly I believe that when Rupert Murdoch bought Myspace the company lost a lot of its “Mojo”. It was seen by the users as a very ‘corporate move’, therefore going against a lot of the ethos of the original site.

Rupert Murdoch invested $580m in 2005 only for the site to lose out big time to its biggest competitor Facebook.

However despite the doom and gloom surrounding the outgoing chief executive, Owen Van Natta, who was a former Facebook executive who had been headhunted to revitalise the site, the company still turns over £350m in advertising and has over 100m users!

I still think that the site should focus on its Youth Culture roots and is still popular in music, online gaming and niche circles – perhaps this could help secure its future in a Facebook dominated market?