Boldly proclaiming “We are not a social network”, MySpace is re branding and refocusing themselves into an entertainment destination website. MySpace once was the top social network in the world with a huge registered user lead over all its competitors. But like Friendster before it, MySpace failed to innovate quickly enough and could not keep up with the Facebook phenomenon.

I actually think this is a great move for MySpace. MySpace was never better than when they were a music and entertainment hub. This is how they started, catering to small indie bands and their dedicated fans. MySpace could never figure out the larger world of social networking, but MySpace are experts in entertainment and music. With this new tight focus on what they do best, I think the future is bright for MySpace, even if they won’t become the next Facebook.