Myspace gains 1 million users…

Myspace seems like a faint memory, something from a past life. The once dominant social-networking site quickly fell from grace when Facebook (truly) took over the world. Now they are back and  have added 1 million new users over the past month, according to the company.

“The numbers tell an amazing story of strong momentum and dramatic change for Myspace,” said Tim Vanderhook, CEO of Myspace. “And the 1 million-plus new user accounts we’ve seen in the last 30 days validates our approach.”

A team of investors, including pop star/actor Justin Timberlake, bought out Myspace in June for the fire-sale price of $35 million. Rupert Murdoch’s News Corp. paid (many would say overpaid) $580 million for it in 2005.

What has mainly contributed to Myspace’s renewed success is that they have decided to stop competing with other social-networks and focus on their initial platform of posting and listening to music. According to Specific Media, the site’s new music player, with access to more than 42 million songs, is offering the Web’s biggest collection of free music. That’s 27 million more than Spotify. For More Info


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