Will This Week’s Redesign Save MySpace?

So in no way is it the end of MySpace but there appears to be a consistent trend domestically: users are leaving MySpace and flocking to Facebook. The press frequently hypes this up to be a result of the site’s poor redesign which has the “aesthetic appeal of a 14-year-old’s high-school locker.” The trend toward Facebook was highlighted when it was announced last week that Facebook overtook MySpace to become the number one social network worldwide.

Is there a market for MySpace or will everybody eventually go running out the door? While I’d like to make it sound like a mass exodus is taking place, the reality is that MySpace still has a dedicated user base. Heck, even I have a few friends that still prefer MySpace over Facebook. MySpace’s redesign looks great and the site continues to be the second largest source of video consumption on the internet.

While Facebook may be a thorn in the side of MySpace I doubt that the company is going to disappear anytime soon. The focus is now on how to monetize the millions of eyeballs looking at the site on a daily basis, not just traffic growth. The company will reportedly bring in close to $900 million this year compared to Facebook’s expected revenue of $350 million for the year.

Most people in the industry like to say that “engagement” is where the money exists but unfortunately there are few metrics for tracking engagement. While MySpace isn’t going to disappear, I’m sure that they would like to see their domestic traffic levels take a turn for the better thanks to their new site design. For now we are going to have to sit back and wait. Do you think MySpace will experience positive boost with their new site design?