Myspace, once a dominant force in social media, has had a tumultuous history of ownership changes and controversies. Since its inception in 2003, the platform has seen its share of ups and downs, and its current ownership structure is a result of a series of acquisitions and divestments.
In this article, we will delve into the complex history of Myspace's ownership, exploring the different entities that have held the reins of the platform over the years. We will examine the impact of these ownership changes on Myspace's trajectory and shed light on the current state of the platform.
As we embark on this journey through Myspace's ownership history, it's important to acknowledge that the platform's story is a microcosm of the rapid evolution and changing landscape of the digital world. The ownership changes that Myspace has undergone reflect the competitive nature of the online landscape and the ever-evolving preferences and behaviors of internet users.
Who Owns Myspace
Myspace's ownership history is a tale of acquisitions, divestments, and controversies.
- Founded in 2003
- Originally owned by Intermix Media
- Acquired by News Corporation in 2005
- Sold to Specific Media in 2011
- Justin Timberlake part-owner from 2011-2014
- Sold to Time Inc. in 2016
- Meredith Corporation acquired Time Inc. in 2018
- Sold to Viant Technology in 2021
- Current owner: Viant Technology
Myspace's ownership changes reflect the evolving digital landscape and changing user preferences.
Founded in 2003
The story of Myspace begins in 2003, when it was founded by a group of young entrepreneurs led by Tom Anderson and Chris DeWolfe. The platform quickly gained popularity as a social networking site, allowing users to connect with friends, share photos and videos, and listen to music.
- Explosive Growth:
Myspace experienced explosive growth in its early years, becoming the dominant social networking site in the world by 2006. It attracted millions of users who flocked to the platform to connect with friends, discover new music, and share their lives online.
- News Corporation Acquisition:
In 2005, News Corporation, the media conglomerate owned by Rupert Murdoch, acquired Myspace for a staggering $580 million. This acquisition marked a significant moment in the history of social media, as it signaled the growing importance and commercial potential of online networking.
- Peak of Popularity:
Under News Corporation's ownership, Myspace reached the peak of its popularity. It became a cultural phenomenon, with celebrities and musicians flocking to the platform to connect with their fans. Myspace played a pivotal role in shaping the careers of many artists, including Lady Gaga, Arctic Monkeys, and Paramore.
- Changing Tides:
However, the rise of new social networking platforms, such as Facebook and Twitter, began to challenge Myspace's dominance. These platforms offered more user-friendly interfaces, innovative features, and a more streamlined user experience. As a result, Myspace began to lose users and market share.
The founding of Myspace in 2003 marked the beginning of a remarkable journey for the social networking site. From its humble origins to its explosive growth and eventual decline, Myspace's story is a testament to the rapidly evolving nature of the digital landscape and the ever-changing preferences of internet users.
Originally owned by Intermix Media
Before Myspace became the social networking giant it was known as, it was originally owned by a company called Intermix Media. Intermix Media was a digital media company founded in 1999 by Steve Kaplan and Marc Stern.
- Early Days:
Intermix Media had a portfolio of online properties, including social networking sites, entertainment portals, and search engines. Myspace was one of the many properties under Intermix Media's umbrella.
- Founding Team:
The idea for Myspace was conceived by Tom Anderson and Chris DeWolfe, two young entrepreneurs who were part of Intermix Media's team. They saw the potential for a social networking site that allowed users to connect with friends, share content, and discover new music.
- Rapid Growth:
Under Intermix Media's ownership, Myspace experienced rapid growth. The platform's user-friendly interface, customizable profiles, and focus on music made it a popular destination for internet users looking to connect with others and share their interests.
- News Corporation Acquisition:
In 2005, News Corporation, a media conglomerate owned by Rupert Murdoch, acquired Intermix Media for $580 million. This acquisition included Myspace, which was the crown jewel of Intermix Media's portfolio.
Intermix Media played a crucial role in the early development and growth of Myspace. The company provided the resources and support needed to turn Myspace into a global phenomenon. However, Intermix Media's ownership of Myspace was relatively short-lived, as the platform was sold to News Corporation just two years after its launch.
Acquired by News Corporation in 2005
In 2005, News Corporation, a media conglomerate owned by Rupert Murdoch, acquired Intermix Media, the parent company of Myspace, for a staggering $580 million. This acquisition marked a significant moment in the history of social media, as it signaled the growing importance and commercial potential of online networking.
- News Corporation's Vision:
News Corporation saw the potential for Myspace to become a dominant force in the online advertising market. The company planned to leverage Myspace's massive user base to generate revenue through targeted advertising and partnerships with other businesses.
- Integration with News Corporation Properties:
News Corporation began integrating Myspace with its other media properties, such as Fox News, The Wall Street Journal, and MySpace Records. This integration allowed News Corporation to cross-promote its content and services to Myspace users.
- Increased Competition:
However, News Corporation's ownership of Myspace coincided with the rise of new social networking platforms, such as Facebook and Twitter. These platforms offered more user-friendly interfaces, innovative features, and a more streamlined user experience. As a result, Myspace began to lose users and market share.
- Sale of Myspace:
In 2011, News Corporation sold Myspace to Specific Media, a digital media company, for a mere $35 million. This sale marked a significant loss for News Corporation, which had paid $580 million for Myspace just six years earlier.
News Corporation's acquisition of Myspace was a strategic move that aimed to capitalize on the growing popularity of social media. However, the company's failure to adapt to changing user preferences and the rise of new competitors ultimately led to Myspace's decline. The sale of Myspace in 2011 marked the end of News Corporation's foray into the social networking space.
Sold to Specific Media in 2011
In 2011, News Corporation, which had acquired Myspace in 2005, sold the platform to Specific Media, a digital media company, for a mere $35 million. This sale marked a significant loss for News Corporation, which had paid $580 million for Myspace just six years earlier.
- Specific Media's Acquisition:
Specific Media was a digital media company founded by Tim Armstrong, the former CEO of Google's advertising division. Armstrong saw the potential for Myspace to become a profitable social networking platform once again.
- Relaunch and Rebranding:
Specific Media relaunched Myspace in 2013 with a new design, improved features, and a focus on music and entertainment. The company also rebranded the platform as "Myspace Music" to emphasize its commitment to the music industry.
- Justin Timberlake's Involvement:
In 2011, Justin Timberlake, the renowned singer and actor, became a part-owner of Myspace. Timberlake's involvement was seen as a strategic move to attract younger users and revitalize the platform's image.
- Continued Decline:
Despite Specific Media's efforts, Myspace continued to lose users and market share to other social networking platforms, such as Facebook and Twitter. The platform struggled to keep up with the changing trends and preferences of internet users.
Specific Media's acquisition of Myspace was an attempt to revive the once-dominant social networking platform. However, the company's efforts were unsuccessful, and Myspace continued to decline in popularity. The sale of Myspace in 2016 to Time Inc. marked the end of Specific Media's involvement with the platform.
Justin Timberlake part-owner from 2011-2014
In 2011, Justin Timberlake, the renowned singer, songwriter, and actor, became a part-owner of Myspace. Timberlake's involvement with the platform was seen as a strategic move by Specific Media, the company that acquired Myspace from News Corporation in the same year.
- Revitalizing Myspace's Image:
Timberlake's involvement was intended to help revitalize Myspace's image and attract a younger generation of users. Timberlake was known for his innovative approach to music and social media, and his involvement with Myspace was seen as a way to bring fresh ideas and energy to the platform.
- Promoting Myspace Music:
Timberlake was particularly interested in promoting Myspace Music, the platform's music-focused initiative. Timberlake believed that Myspace could become a powerful platform for musicians to connect with their fans and share their music.
- Exclusive Content and Partnerships:
As a part-owner, Timberlake helped Myspace secure exclusive content and partnerships with other celebrities and musicians. This exclusive content included music videos, behind-the-scenes footage, and interviews, which helped attract users to the platform.
- Departure from Myspace:
Timberlake's involvement with Myspace ended in 2014 when he sold his stake in the company. Timberlake's departure coincided with Myspace's continued decline in popularity and the rise of other social media platforms.
Justin Timberlake's involvement with Myspace was an attempt to revive the platform and attract a younger generation of users. However, despite Timberlake's efforts, Myspace continued to lose ground to other social networking platforms. Timberlake's departure in 2014 marked the end of his involvement with Myspace.
Sold to Time Inc. in 2016
In 2016, Specific Media, the company that had acquired Myspace in 2011, sold the platform to Time Inc., a leading media and publishing company, for a mere $61 million. This sale marked another significant chapter in Myspace's ownership history and signaled a shift in the company's focus.
Time Inc.'s acquisition of Myspace was part of the company's broader strategy to expand its digital presence and reach a younger audience. Time Inc. saw the potential for Myspace to complement its existing portfolio of media properties, which included magazines such as Time, People, and Sports Illustrated.
Under Time Inc.'s ownership, Myspace underwent a series of changes. The platform's design was revamped, new features were introduced, and the focus shifted from social networking to entertainment and content discovery. Time Inc. also integrated Myspace with its other digital properties, allowing users to access content from Time, People, and other magazines on the Myspace platform.
Despite Time Inc.'s efforts, Myspace continued to struggle to regain its former glory. The platform faced stiff competition from other social media platforms, such as Facebook, Twitter, and Instagram, which had become the preferred destinations for users to connect with friends, share content, and consume entertainment.
Time Inc.'s acquisition of Myspace was an attempt to revitalize the platform and capitalize on its potential as a digital entertainment hub. However, the company's efforts were unsuccessful, and Myspace continued to decline in popularity. The sale of Myspace in 2018 to Meredith Corporation marked the end of Time Inc.'s involvement with the platform.
Meredith Corporation acquired Time Inc. in 2018
In 2018, Meredith Corporation, a leading media and publishing company known for its magazines, television stations, and digital properties, acquired Time Inc., the parent company of Myspace. This acquisition marked another significant change in Myspace's ownership and signaled a new direction for the platform.
- Expanding Digital Reach:
Meredith Corporation's acquisition of Time Inc. was part of the company's strategy to expand its digital reach and diversify its portfolio of media properties. Meredith saw the potential for Myspace to complement its existing digital assets and provide a platform for the company to reach a younger audience.
- Focus on Local News and Content:
Under Meredith Corporation's ownership, Myspace underwent a transformation. The platform shifted its focus from entertainment and content discovery to local news and community-based content. Meredith leveraged its network of local television stations and digital properties to provide Myspace users with relevant and localized news and information.
- Integration with Meredith's Digital Network:
Meredith Corporation integrated Myspace with its other digital properties, such as Allrecipes, Martha Stewart, and Better Homes & Gardens. This integration allowed users to access content from these popular brands on the Myspace platform, further expanding the platform's reach and appeal.
- Continued Challenges:
Despite Meredith Corporation's efforts, Myspace continued to face challenges in regaining its former popularity. The platform struggled to compete with established social media giants such as Facebook and Twitter, which had become deeply ingrained in users' daily lives.
Meredith Corporation's acquisition of Time Inc. and subsequent ownership of Myspace marked a period of transition and transformation for the platform. Meredith's focus on local news and community-based content was a strategic move to differentiate Myspace from other social media platforms. However, the platform continued to face challenges in attracting and retaining users, and its future remained uncertain.
Sold to Viant Technology in 2021
In 2021, Meredith Corporation sold Myspace to Viant Technology, a leading people-based advertising technology company, for a reported $20 million. This sale marked another significant chapter in Myspace's ownership history and signaled a new direction for the platform.
Viant Technology's acquisition of Myspace was part of the company's strategy to expand its portfolio of digital media properties and enhance its advertising capabilities. Viant saw the potential for Myspace to complement its existing advertising platform, Adelphic, and provide a valuable platform for reaching and engaging audiences.
Under Viant Technology's ownership, Myspace underwent a series of changes. The platform shifted its focus from social networking and community-based content to music and entertainment. Viant leveraged its expertise in digital advertising to create a new music streaming service called Myspace Music. The service offered users access to a vast library of music, personalized recommendations, and exclusive content from artists.
Viant Technology also revamped Myspace's design and introduced new features to improve the user experience. The platform now offers a more modern and intuitive interface, improved navigation, and enhanced discovery tools for music and entertainment content.
Viant Technology's acquisition of Myspace is a strategic move to expand the company's reach in the digital advertising and music streaming markets. Viant's expertise in these areas, combined with Myspace's legacy and potential for growth, could lead to a new era of success for the platform.
Current owner: Viant Technology
As of 2023, Myspace is owned by Viant Technology, a leading people-based advertising technology company. Viant acquired Myspace in 2021 with the goal of expanding its digital media properties and enhancing its advertising capabilities.
- Focus on Digital Advertising:
Viant Technology is known for its expertise in digital advertising. The company's platform, Adelphic, is a leading demand-side platform (DSP) that enables advertisers to reach and engage audiences across various digital channels.
- Integration with Adelphic:
Viant plans to integrate Myspace with Adelphic, allowing advertisers to leverage Myspace's audience data and reach users with targeted advertising campaigns.
- Repositioning as a Music Streaming Platform:
Under Viant's ownership, Myspace has shifted its focus from social networking to music streaming. The platform now offers a music streaming service called Myspace Music, which provides users with access to a vast library of music, personalized recommendations, and exclusive content from artists.
- Revamped Design and Features:
Viant has revamped Myspace's design and introduced new features to improve the user experience. The platform now has a more modern and intuitive interface, improved navigation, and enhanced discovery tools for music and entertainment content.
Viant Technology's ownership of Myspace marks a new chapter for the platform. Viant's expertise in digital advertising and its focus on music streaming could potentially revitalize Myspace and attract new users. Whether Viant can succeed in turning Myspace around remains to be seen, but the company's plans for the platform are ambitious and could potentially lead to a resurgence of the once-dominant social networking site.
FAQ
Looking for more information about the ownership history of Myspace? Check out these frequently asked questions and answers:
Question 1:
Who currently owns Myspace?
Answer:
As of 2023, Myspace is owned by Viant Technology, a leading people-based advertising technology company.
Question 2:
How many owners has Myspace had?
Answer:
Myspace has had a total of seven owners since its founding in 2003: Intermix Media, News Corporation, Specific Media, Justin Timberlake (part-owner), Time Inc., Meredith Corporation, and Viant Technology.
Question 3:
What was the most significant ownership change in Myspace's history?
Answer:
The acquisition of Myspace by News Corporation in 2005 was a significant moment, as it marked the platform's transition from a privately-held company to a subsidiary of a major media conglomerate.
Question 4:
What was the reason behind Justin Timberlake's involvement with Myspace?
Answer:
Justin Timberlake became a part-owner of Myspace in 2011 with the goal of revitalizing the platform's image, attracting a younger generation of users, and promoting Myspace Music, the platform's music-focused initiative.
Question 5:
Why did Myspace decline in popularity?
Answer:
Myspace's decline in popularity was attributed to several factors, including the rise of new social networking platforms such as Facebook and Twitter, the platform's failure to adapt to changing user preferences, and controversies surrounding its management and privacy practices.
Question 6:
What is the future of Myspace under Viant Technology's ownership?
Answer:
Viant Technology plans to leverage its expertise in digital advertising and focus on music streaming to revitalize Myspace. The company has revamped the platform's design, introduced new features, and launched a music streaming service called Myspace Music. Whether Viant can succeed in turning Myspace around remains to be seen, but the company's plans for the platform are ambitious and could potentially lead to a resurgence of the once-dominant social networking site.
We hope this FAQ section has answered your questions about the ownership history of Myspace. If you have any further questions, feel free to explore other reliable sources for more information.
In addition to learning about the platform's ownership, you may also be interested in exploring Myspace's features, discovering new music on the platform, or connecting with other users. Check out the tips section below for more information on how to get the most out of Myspace.
Tips
Now that you know more about the ownership history of Myspace, here are a few practical tips on how to get the most out of the platform:
Tip 1: Explore the Music Streaming Service:
If you're a music lover, check out Myspace Music, the platform's dedicated music streaming service. With a vast library of songs, personalized recommendations, and exclusive content from artists, Myspace Music is a great way to discover new music and support your favorite artists.
Tip 2: Connect with Other Users:
Myspace is still a social networking platform at its core, so don't hesitate to connect with other users who share your interests. Join groups, send messages, and participate in discussions to expand your network and make new friends.
Tip 3: Create and Share Content:
Myspace allows users to create and share a variety of content, including blog posts, photos, videos, and music. Share your thoughts, experiences, and creative works with the Myspace community and engage with other users through comments and likes.
Tip 4: Customize Your Profile:
Make your Myspace profile a reflection of your personality and interests. Customize your profile picture, background image, and bio to stand out from the crowd. You can also add links to your other social media accounts or website to connect with your followers across platforms.
We hope these tips help you make the most of your Myspace experience. Whether you're a longtime user or new to the platform, there's something for everyone on Myspace. So dive in, explore, and enjoy!
Myspace has come a long way since its early days as a social networking giant. Through its many ownership changes and challenges, the platform has evolved and adapted to the ever-changing digital landscape. While it may not be as dominant as it once was, Myspace remains a vibrant community with a dedicated user base. With its focus on music streaming, social networking, and content creation, Myspace continues to offer unique and engaging experiences for its users.
Conclusion
Myspace's ownership history is a tale of innovation, competition, and adaptation. From its humble beginnings as a social networking site to its current incarnation as a music streaming platform, Myspace has undergone a remarkable transformation. Through its many ownership changes, the platform has faced challenges, controversies, and shifting user preferences.
Despite the ups and downs, Myspace has remained resilient and continues to offer a unique and engaging experience for its users. The platform's focus on music streaming, social networking, and content creation has allowed it to carve out a niche in the digital landscape. While it may not be the dominant force it once was, Myspace remains a vibrant community with a dedicated user base.
The platform's current owner, Viant Technology, has ambitious plans to revitalize Myspace and attract new users. With its expertise in digital advertising and focus on music streaming, Viant could potentially lead Myspace to a new era of success. Whether Viant can succeed in turning Myspace around remains to be seen, but the company's plans are ambitious and could potentially lead to a resurgence of the once-dominant social networking site.
Ultimately, Myspace's legacy is one of innovation, resilience, and adaptation. The platform has weathered many storms and continues to evolve to meet the changing needs of its users. Whether you're a longtime fan or new to the platform, there's something for everyone on Myspace. So explore, engage, and enjoy all that the platform has to offer.