Specific Media, a digital media company, announced its acquisition of Myspace, a leading social networking destination for consumers, celebrities and artists. As part of the deal, Emmy and Grammy winning artist Justin Timberlake will also take an ownership stake and play a major role in developing the creative direction and strategy for the company moving forward. Specific Media and Timberlake plan to unveil their vision for the site in an exclusive press conference later this summer.
Specific Media Acquires Myspace
“We look forward to partnering with someone as talented as Justin Timberlake, who will lead the business strategy with his creative ideas and vision for transforming Myspace. This is the next chapter of digital media, and we are excited to have a hand in writing the script.”
“There’s a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect. Myspace has the potential to be that place,” says Timberlake. “Art is inspired by people and vice versa, so there’s a natural social component to entertainment. I’m excited to help revitalize Myspace by using its social media platform to bring artists and fans together in one community.”
A Social Network that Connects People with the Artists
Myspace has created a robust social networking infrastructure that connects people with the artists and content they love. Specific Media and Timberlake plan to evolve Myspace into the premiere digital destination for original shows, video content and music.
Specific Media will also leverage the Myspace social networking infrastructure to deploy socially-activated advertising campaigns, enabling brands to turn their campaigns viral by allowing users to share their favorite ads with friends.