Myspace announced a new brand, website and a suite of products that together redefine the company as a social entertainment destination for Gen Y.

Sources at Myspace told Portada “The Hispanic implication lies in that Myspace is circling back to younger demos and as the fastest growing segment in that demo, Hispanics are a key component of that rebranding strategy. Young Hispanics make up 18 percent of part of the Gen Y population.”

Myspace is creating a highly personalized experience for people to discover content and connect with other fans who share similar interests. The entertainment experience will span music, celebrities, movies, television and games and will be available through multiple platforms, including online, mobile devices and offline events.

“This marks the beginning of an exciting turning point for Myspace. Our new strategy expands on Myspace’s existing strengths – a deep understanding of social, a wealth of entertainment content and the ability to surface emerging cultural trends in real time through our users,” said Mike Jones, CEO of Myspace.

Myspace’s source added: “This is just the first stage of the announcement but MySpace recognizes the growing importance and influence of the Hispanic market and will be developing content that speaks to their interests, especially as it relates to expressing themselves through the viral video culture.”

Newly Designed Beta Site

Myspace has completely rebuilt its website, with a new visual identity and product features that put content center stage. From the color palette to the way the site is organized to the improved navigation, everything has been redesigned to help people easily find relevant content.

The redesigned Myspace welcome page showcases fresh content as it bubbles up across the beta site in real time. Additionally, once a user logs in to Myspace, the page will instantly populate with content based on the individual’s interests, creating a contextually relevant discovery experience.

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