Deak+J+Strategy+Report

Deak J TO: Proximity social network FROM: Joe Deak DATE: February 27, 2010 SUBJECT: Myspace strategy analysis

We were asked to do strategy analysis on Myspace. Myspace is a social networking giant that enables people to interact with personal profiles, photos, videos, messaging and the world’s largest music community. Myspace has over 100 million users and 70 million unique servers all around the world. Myspace help to be a “social lens” for its users and it depends on the Gen Y users to continue to support Myspace and help it maintain being one of the top social networking companies.

Myspace is a division of News Corporation. It had been bought out in 2005 about a year after Myspace’s initial release in 2004. Since then, this Los Angeles based company has been helping to connect an online community through many different mediums such as customizable profiles and music streaming. Tom Anderson is the president of the company.
 * Profile**

Myspace’s peak year was during 2007. Since the introduction of its number one rival, Facebook, Myspace has been on a steady user decline. Myspace draws the most amounts of users from the United States, Malaysia, and Australia. As new social networking sites continue to emerge, such as Twitter, Myspace has a threat of continuing its downward progression. However because Myspace is constantly rivaling Friendster and Facebook, Myspace is able to grow and expand on other ideas implemented to their site, which could later win back some of Myspace’s users.
 * Competitive Landscape **

According to a meeting held by the CEO of myspace, Owen Van Natta, at an all hands meeting, myspace acknowledged that it needed to speed up the process of competing with facebook. Their new vision for myspace is to, “Discover and be discovered.” This vision would include: - People will always be getting new stuff from Myspace - New people that they should meet - Movie trailers they should watch - Games they may want to play - Music the should listen to - Articles they should read
 * Friendster’s Strategy**

After taking a back seat to Facebook for the past three years, Myspace needs the support of Gen Y users in order to see what will bring more old and new users to Myspace. Through this new, “Discover and be discovered,” concept, Myspace and stepping a foot into the right direction. By using this strategy, users will have something to do on Myspace that Facebook does not.
 * Gen Y Implication**

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 * References**

Myspace. (2010, 28 February) [] TechCrunch (2010, 26 February) [] Google Trends. (2010, 27 February) []