News Corporation reboots MySpace

News Corporation wants to re-position MySpace as a complimentary service to Facebook, for Generation Y

News Corporation has launched a new version of its social networking website MySpace, with a renewed focus on music and entertainment.

MySpace chief exec Mike Jones has also said that the company no longer plans to compete head-to-head with Facebook, but instead wants to position itself as a complimentary service that younger users (from those in their teens through to users in their mid-thirties) will use to keep on top of the best and latest music and videos.

MySpace or yours?

Traffic to MySpace has been steadily declining since March this year, while Facebook's 500-million-plus userbase continues to grow. MySpace currently has between 125 and 130 million active users, according to News Corporation.

The company purchased MySpace in 2005 for a cool $580 million.

MySpace's new revamp has a strong focus on content about movies, television and video games. The site has also been redesigned in order to increase the ease of usability – with more consistency in on-screen navigation buttons and the like.

The new MySpace is currently in beta, with the new site due to be rolled out to all users by the end of November.

CEO Mike Jones stressed that the focus is heavily on Generation Y, the 35-year-old and under demographic.

Via Reuters