New TV Service Coming From the Company That Was Once the Dominant Social Network on the Internet; New Service Cashes In on a Recent Habit of TV Viewers

Jan 10, 2012  •  Post A Comment

The company that pretty much created social networking, but has almost faded from memory after being upstaged by Facebook, Twitter and others, is ready to stage a comeback on a new platform, the Los Angeles Times’ Company Town blog reports.

Myspace, which has seen significant erosion of its user base with the advent of other social networking services, will debut a new social TV service called Myspace TV, the story reports.

The service aims to "make TV better," said Executive Vice President Marcus Liassides. The service will allow consumers with Panasonic Viera Internet-connected TV sets to use a Myspace TV application that will allow them to chat about any show they’re watching, and to invite friends to watch in a viewing party, the story notes.

"It’s a traditional TV service. What we’ve done is added a social layer on top," said Myspace Chief Executive Tim Vanderhook.

The story notes: "Myspace seeks to take advantage of a situation Nielsen documented in its Consumer Usage Report: that 70% of women and 60% of men are distracted multi-taskers, checking their email or surfing the Web while they watch TV. Myspace seeks to harness the second screen in the living room — be it laptop, tablet or smartphone — to create a conversation around the TV program."

Myspace was the most visited social networking site in the world for several years in the mid-2000s, and became the most visited website in the U.S., ahead of Google, in 2006. But it lost ground to Facebook and other services and began to decline by the end of the decade.

The company, which was bought for about $35 million from News Corp. last year by online ad firm Specific Media, has lost 9.4 million users since June, the piece adds. Justin Timberlake is one of the company’s new owners.

The service currently has about 24 million monthly users, according to comScore data.

One Comment

  1. What happens when 2 has-beens mate?

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