Here around the Axiom office, we love to reminisce about our early days online. Our stories range from the hours spent playing Neopets to how cool we felt chatting on AOL during our junior high school years. And one topic that dominated those good-old-days conversations was MySpace.
In a world of likes, tweets, and check ins, many people have forgotten about the original social media phenomenon (sorry Friendster). There's no doubt MySpace has kind of fallen off the map over the past few years. And with reports surfacing a couple weeks ago that the once-mighty social network is hemorrhaging money, MySpace seems to be circling the drain.
Or is it?
Rupert Murdoch, who bought MySpace back in 2005, conjured images of Braveheart as he declared over and over that MySpace will not go down without a fight. And while I doubt he will be donning blue warpaint anytime soon, he does have enough financial weaponry to get something done. And their plan of attack appears to be a massive overhaul, although they haven't said what that will entail.
With constant innovation from other social media giants, MySpace needs a great idea and they it need it soon if they ever want to claw their way back to the top of the social networking mountain.