The recent buyout of MySpace.com by FOX News has allowed the website to widen its already vast media influence with the addition of official movie and television show profiles, sneak peeks of FOX television shows, contests involving exclusive MySpace media, and the new MySpace Records music label.
The $580 million July 18th buyout of Intermix Media, parent company of MySpace.com, is one of the first large steps for FOX News’ parent company, News Corporation, towards achieving a greater media presence on the worldwide web, as the company pledged it would earlier this year. Intermix has more than 30 different websites under its name including MySpace.com which will all now become a part of News Corp.’s new division called Fox Interactive Media.
“Intermix’s brands, such as MySpace.com, are some of the web’s hottest properties and resonate with the same audiences that are most attracted to Fox’s news, sports and entertainment offerings,” said News Corporation’s Chairman and Chief Executive Officer, Rupert Murdoch, in a press release.
“We see a great opportunity to combine the popularity of Intermix’s sites, particularly MySpace, with our existing online assets to provide a richer experience for today’s internet users.”
New features that users have noticed in the last months include an online address book, more reliable servers, and the new addition of MySpace Records.
Another recent addition to the website is the previewing of television shows exclusively on MySpace. However, it is the MySpace Records that seems to be the biggest hit with users. The website’s new music label launched November 15 under the umbrella of Universal Music Group’s Interscope Records. The label’s first release, titled “MySpace Records: Volume I” features a compilation of major-label, independent-label, and unsigned musical acts.
Despite the new features, some users fear the corporate ownership will ruin the website that has exploded into a cultural phenomenon over the past two years.
“MySpace will be decked out with FOX ads,” said former Moorpark College student Richard Chang, now a marketing major at the University of Notre Dame.
“It’s going to be a huge FOX commercial, and it might get annoying.” However, the company’s executives maintain that it is inevitable for the website to broaden its influence to wider arenas and that it is a positive thing. “We are very excited to combine our unique Internet reach and assets with one of the most exciting media companies in the world,” said Richard Rosenblatt, Intermix Media’s CEO. “We look forward to continuing to lead the market in unique content, social networking, and analytical marketing.”
Even despite the concerns regarding the recent corporate buyout, most users of the website believe that it provides more positive than negative for the internet community.
“It’s fun, easy, and it’s how I stay in touch with people I thought I’d never see again,” said Chang. “So in a way, you could say it’s a life-saving mechanism that has allowed me to keep memories alive with people I don’t want to forget.” No matter what the stance on MySpace.com, there’s no denying its attraction to the youth community. With all the recent developments and expansion within News Corp.’s new MySpace company, there’s nothing stopping the internet site from further expansion in the future, perhaps developing in movies and video games, both huge avenues in the youth market.
