I haven’t logged in to the Bangsplat Myspace page in over a year. It’s still there, but maybe not for long.
It was announced today that Myspace was being sold for a piddling $35 million to an advertising network. They outbid a venture capital firm and other interested parties, including a couple Myspace founders.
Of course, no one uses Myspace these days except for musicians who took advantage of it being a bit more band-friendly than Facebook. I assume that Specific Media hopes to revitalize the site and sell ads on it.
It bugs me when I see musicians use Myspace or Bandcamp as their only web presence. Those web sites are great at what they do, and should be used. But it is short-sighted to pitch your tent in someone else’s yard, and it’s too cheap and easy to set up a web site of your own. Then link to Bandcamp, Soundcloud, Vimeo, or whatever.
People seemed to (mostly) get past the fact that Myspace was owned by News Corp. Will they be able to get past the fact that it is now owned by an advertiser?
UPDATE – 2011-07-04
Turns out one of Specific Media’s owners is Justin Timberlake, who plans on focusing on Myspace’s strengths as a portal for musicians.