Is Myspace Making a Comeback?

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Last year Myspace was pretty much considered dead, and was sold from NewsCorp to advertising network SpecificMedia. According to a recent press release, MySpace is now growing once again, and has added one million new member since December, making approximately 40,000 per day.

The new site is a partnership between SpecificMedia and none other than Justin Timberlake, which is now trying to be an add-on to other social networks, instead of a competition.

“The numbers tell an amazing story of strong momentum and dramatic change for Myspace,” said Tim Vanderhook, CEO, Myspace, “and the one million-plus new user accounts we’ve seen in the last 30 days validates our approach. Myspace is building meaningful social entertainment experience around content, where consumers can share and discover the music they love. Consumers are getting excited about Myspace again – a testament to a great music product.”

However, despite this claim, the over-all traffic on Myspace is still dropping significantly, with Alexa showing almost a 20% drop in traffic in the last three months, and Compete showing that since last December it’s lost over 26M people visiting the site.

While its good news that their advertising and promotions is signing up new visitors, partially because of SpecificMedia’s amazing reach through their advertising network, it wont matter much if the site completely looses the remaining 21 Million visitors. That’s still a net loss.

Still, with 21 Million Visitors, and perhaps new visitors being signed up, there is room here for affiliates and marketers to use myspace as a possible platform through Specific Media.

What's your opinion?