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MySpace Undergoes a Fresh Revamp Attempt

Once the social giant, MySpace has lost it to the likes of Facebook and Twitter. With decline of about 20% in the traffic and a loss of $100 million a year, the story definitely looks dismal for MySpace. News Corp. paid close to $600 million to acquire MySpace in 2005. MySpace underwent a fresh revamp attempt, thanks to the newly appointed CEO, Mark Jones. Mark, who was an executive with AOL earlier, pointed out that the social service provider concentrated on consolidation of the services. He acknowledged that MySpace forgot to respect the end user and made its interface cluttered with ads, music and other themes. As a result, people were hardly able to read text and the traffic numbers started declining. As on date, 58 million users log on to MySpace compared to 148 million of Facebook.

The site was earlier built using 5 programming languages and now it has been consolidated into one. The redesign is targeted to appeal people in the age group of 13-35 years. Some of the other finer features that MySpace has implemented over summer include the smarter integration with other social services such as Twitter and Facebook. The aim is to let users stay on MySpace from anywhere, anytime.

MySpace will also roll out a mobile site to gain from the mobile connectivity possibilities. Facebook for instance doubled its mobile users in 2009 from 12 million to 25 million in 2010. At the same time the numbers for MySpace shrank to a mere 11.4 million in 2010. In case the revamp fails, News Corp. would be left with no other option but to resell MySpace to interested third parties in order to prevent the cost leakages in the form of annual or quarterly losses.

However, if the revamp exercise works out for MySpace then it would be all set to make smarter profits in just about no time at all.

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