November 21, 2012

Sorry, 'New MySpace' Is Going to Fail

Richard Nieva, Pando Daily


AP Photo

It’s dangerous when actors confuse a role with reality. Imagine if Daniel Craig, for instance, suddenly believed he were James Bond and chased villains across the tops of trains. Or if Nicholas Cage really thought he could take his face…off. Today, we are seeing why Justin Timberlake should probably only play an entrepreneur in the movies. A deck from MySpace’s funding efforts is circulating around the Internet, and it is an awful idea. The plan says that MySpace’s parent, Interactive Media Holdings (formerly Specific Media), is out to raise $50 million in funding, with which it intends to repurpose MySpace as a streaming music service, in direct competition with Spotify, Rhapsody and Pandora. What Timberlake and Co. need to understand is that a known brand...

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TAGGED: digital music, internet, Myspace

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