Sunday 4 December 2016

Time inc bought MySpace for some reason

Paul Mallon

Published 12/02/2016 | 09:33

MySpace
MySpace

MySpace is still around and the parent company of the social media site has been bought up by Time Inc for some reason

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Internet users of a certain vintage certainly remember MySpace but its alarming to note that it originally launched in 2003 and reached its zenith in 2008, just when Facebook was on the rise.

Well MySpace is actually still around, after an awkward relaunch in 2013 which was designed to be more focussed on connecting musicians with their fans. That didn't really work, despite backing from Justin Timberlake, but the site is still there - alledgedly drawing in up to 50 million views a month with its mix of music and video content.

And now it has been sold again. Time Inc has bought MySpace's parent company Viant for an undisclosed amount - last time it sold for just $35 million. The aim of the sale is for the publisher to gain access to the user details of more than 1 billion people who have signed up to MySpace over the last thirteen years, with an aim to using them for marketing and advertisement purposes. It sounds like you might be getting some spam, even if you haven't used the social site in years.

This move could help the company behind Time Magazine and Sports Illustrated get a leg up on the digital world but at this point we're just hoping there's no plan to relaunch yet again - there's just no way to compete in this space with the likes of Facebook.

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