MySpace Launching A New Look Next Week, Hoping To Increase Ad Revenues

Posted Jun 15, 2008

MySpace, the social network site owned by News Corporation (NYSE:NWS.A) is launching tomorrow with a new look.  MySpace hopes to bring in new users and keep old users coming.  MySpace’s homepage will be revamped and there will the navigation will be easier.  MySpaceTV will be redesigned. And even the search tool will be more advanced.  The first rollout will take place on Wednesday. 

News Corp. is hoping that rebranding the site will increase ad revenues with the new look & feel.  News Corporation was hoping to reach $1 billion in revenues from FOX Interactive Media, a subsidiary of the company that runs MySpace.  Dani Dudeck, a spokeswoman for MySpace stated that a major advertiser.  The New York Times revealed that is the makers of the new Batman movie.

MySpace has over 118 million users (73 million American) and Facebook has 36 million.  Google Inc. (NASDAQ:GOOG) paid MySpace $900 million to run the advertising in the profile pages of MySpace.  That deal will be expiring in 2009.