MySpace is in trouble. The social networking site that Rupert Murdoch purchased for $580 million has been hemorrhaging
users for the last nine months. In the same period, arch-rival Facebook
increased its unique visitor growth by 48 percent. And now, MySpace's star CEO
Owen Van Natta has left the company under vague circumstances. As the company's new co-presidents step up to the plate, tech bloggers are offering advice on how to save what was once America's most popular social networking site.
- Make It a Music Hub, writes Internet entrepreneur Patricia Handschiegel: "MySpace could possibly find a foothold and at least turn itself around, though it’d take time and effort to do. If I were running the show I’d take a hard look at HOW users are using the site now, and likely take it back to its roots, which was music. Make it a hub to find music, new independent bands, etc. with some cool twist for the bands and the users, sell subscription live music shows, acoustic recordings, maybe even branch into being able to buy music through a partnership with Apple."
- Get Freedom From News Corp., writes Michael Arrington at TechCrunch: "MySpace’s only hope, and I don’t think I’m exaggerating here, is to be spun off from News Corp. into an independent entity. They need an intelligent management structure (no co-presidents) filled with enthusiastic executives (who don’t trash the company in public) and they need a radical product plan. And they need to be private so they can give employees stock options. MySpace is just an afterthought for News Corp. An unwanted step child. MySpace, once the King of the Internet, deserves better."
- Find a Visionary Leader, writes Om Malik at GigaOM: "Instead of hiring three managers, the company [should] have hired a strong chief technology officer, who had the vision and the guts to essentially take the living corpse of a social network and send a shock through its system...What the company needed was radical transformation."