MySpace is getting a reboot from News Corp., as the media giant is seeking to appeal again to young consumers and to mark itself as something different from Facebook, reports Bloomberg News.
Most U.S. users will be able to access the site’s videos and music, which are updated in real time, the story adds. They can earn rewards for postings, with the new version debuting worldwide by the end of November. According to an estimate from RBC Capital Markets, the site lost about $350 million last year.
The new plan depends on attracting 13- to 35-year-olds who want a social network separate from Facebook, increasingly populated by other adults and parents. MySpace users would connect through shared interests in television or celebrity news, for example, while previously the service helped subscribers join up with friends, the story adds.