July 25, 2006
    myspace - the party continues...

MyspaceWhen Rupert Murdoch, head of News Corporation, beats Viacom (includes MTV) to MySpace with a price tag of $580 million, you have to take note. Murdoch is the epiphany of the old establishment, printing presses and ruler of the skies. However, it became obvious to him that the deep changes caused as a result of the growing online community would have an impact on his empire’s future.

“Technology is shifting power away from the editors, the publishers, the establishment, the media elite. Now it’s the people taking control”, claims Murdoch,”the Internet is the media’s golden age.”

The shift from top down, one fits all, is being replaced at lightning Internet speed to delivering what the audience wants, when and where they want it. And it’s not easy to control let alone apply traditional business models. One wrong move and the disruptive forces that built the community can turn on you.

MySpace is described as a 24/7 party with “pimped” pages that has left the ever so in tune with youth MTV looking sedately out of date. It’s core values are what the users want it to be and to find a way of taming the beast will all but kill it. How frustrating to have a community of 90 Million, 280,000 added EVERY day, a billion page views PER day and still be at odds as to how to obtain a return worthy of the audience.

To Murdoch, an audience this size agglomerated with NO marketing, in other words a virally produced site with the added bonus of having no content costs, is a refreshing concept to him, used to paying out millions for hits such as the Simpsons, 24 or even Fox News.

So the playing field has changed. The new order is an emphasis on connecting people with people, keeping them sufficiently motivated to produce their own content whilst adding widgets (gadgets) to the party ever so often. They are no longer watching – they are indeed participating. It’s all about keeping the party going on auto pilot until the right mix of autonomy and control can be reached without interfering.

MySpace, like any other community online, will enable its “keepers” to spot micro-niches, track early trends, identify new buzz words or concepts and ultimately has the power to make hits, market hits and replace hits with new hits all within the virtual walls of the community

“Popular culture will become more truly popular than ever before”.

read more Wired Magazine
Spencer Reiss July 2006

Posted by Nuno Machado Lopes in social media ,viral marketing ,youth marketing
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