He brought sexy back but can he bring MySpace back? That's the $35 million dollar question. Specific Media has confirmed Justin Timberlake's involvement in the purchase of the former social media giant. According to Specific Media, Timberlake will also be involved in the plans for revamping the network.
The new vision for the MySpace network will be announced later this summer in an exclusive press conference. Until then, Specific Media says that MySpace will become the premiere digital destination for original shows, video content and music.
Timberlake has been involved in other business ventures past and I think buying into MySpace, a social network most closely aligned with music and concerts is a good strategic move for someone as knowledgeable about the music business as he is. It will be interesting to see what the future holds for MySpace.
According to a recent study by social sharing company ShareThis, in which the content sharing habits of some 300 million+ users were studied, it was noted that Facebook largely dominates the sharing space with 56% of all shared content originating with Facebook as compared with Twitter at 8%.
Not surprising because the Twitter universe is so much smaller than Facebook.