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Myspace is a Fading Social Network for Indie Artists

News Corp. warns that Myspace is on thin ice after the lack-luster quarterly earnings were recently announced. The social network only has a few months to turn things around before the decision is made, according to Rupert Murdoch’s statement during a conference call.

”The current losses are not acceptable or sustainable,” said Chase Carey, president and chief operating officer at News Corp. “Our current management did not create these losses, but they know we have to address them.”

This obviously isn’t surprising news, and it could result in one less social platform that independent artists have to expose their projects. Currently, Myspace is the most dominant database of indie artists.

Bands are even using their profiles as websites and redirecting their URL’s to help market their music, so what are they going to do when the site is gone? There still is Reverb Nation, Pure Volume and of course, Gighive (shameless plug) for bands to utilize, but what a waste of an established network of artists.

The social network has tried to revamp its image with interface updates, and by integrating other social media sites, but these moves appear to be failing.

I haven’t signed in to Myspace in a while. Honestly, I only have my profile active for SEO purposes. It’s still a strong link to have out there, but for how much longer?

It is hard to keep users happy as Facebook is finding out with every update they apply to the site. Hopefully they learn from the mistakes that Myspace has made, but only time will tell…

News Corp. purchased Myspace in 2005 in hopes to expand the network, but Facebook has become the “it” network to use since the acquisition.

Are you still using Myspace for your band’s marketing and to connect with fans? Please let us know in the comments section.

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  1. You should check the New Myspace feel it is pretty good In my humble opinion ! As you said time will tell but at the moment there is no replacement for Myspace and now you can have 25 songs in your player and unlike Bandcamp unlimited downloads...
    • gighive
      We will see if it's too late for change. News Corp. seems pretty anxious, as well.
  2. Yes true though the actual quote about their anxiety was truncated because Chase Carey also said in the same interview that News Cor were happy with the redesign. Plus maybe someone could be interested in buying Myspace for a lower price, they are indeed still number 2 social network on mobile phones and according to Michael Jones there are new features on their way ... Myspace existed before its acquisition I don't see why it would die if sold ..
    • gighive
      Very good points! It would be sad to see thrown away.
    • Yes indeed ! Still watching for every new opportunities that passes though ! No fanboyism ever is the first rule !