Last week, when News Corp. sold MySpace sold for a mere $35 million, compared to the $550 million they paid for it, that was the punchline. What stayed a little bit under the radar was that Justin Timberlake is one of the shareholders of Specific Media, which acquired the company.
He spoke about his vision for MySpace with “There’s a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect. MySpace has the potential to be that place.”
Easier said than done. I’m not trying to flippant. He’s right. But, that’s a lot more buzzwords than strategy. Now, if he builds a music television show, where all auditions and voting takes place directly on MySpace, that’s a vision that has a chance.