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Myspace Global Redesign

By James Callan

Bloomberg News

Article Launched: 06/14/2008 01:36:49 AM PDT

MySpace.com, News Corp.’s social-networking Web site, will begin a global redesign next week to increase traffic from existing users and draw new ones.

The redesign includes a home-page makeover, navigation changes and an overhaul of the site’s search tool and MySpaceTV player, the company said Friday in a statement. The first phase begins Wednesday, the company said.

News Corp., which bought MySpace for $580 million in 2005, is seeking to increase advertising revenue on the site by attracting new users. The media company said in April it will miss a 2008 goal of $1 billion in sales for Fox Interactive Media, which includes MySpace. Last month, New York-based researcher EMarketer said MySpace may have lower-than-predicted sales this year because of the slowing economy. MySpace said “a major advertiser” agreed to take over the site’s home page on the first day of the new redesign. Company spokeswoman Dani Dudeck declined to identify the advertiser.

The latest MySpaceTV player will offer a new advertising platform for multiple ad providers and formats. The player also includes more comprehensive video-sharing tools and a wider range of language choices, the company said.

News Corp. Class A stock, which has fallen 13 percent this year, rose 66 cents, or 3.8 percent, to $17.98 in New York Stock Exchange composite trading.

Speaking of collaborations

Sometimes you can’t do everything yourself. You don’t have the budget to launch a big marketing campaign. Or you don’t even know where to start. One of the best ways to promote your website or business is to work together with others to achieve mutually beneficial outcomes.

The legal form of this is known as a joint venture, where two or more parties create a new entity by contributing equity and sharing revenue, expenses and control. Another form of collaboration is known as a strategic alliance, whereby the parties involved pursue common goals while remaining as independent organizations.

No matter what you call it, collaboration with others will benefit you in ways that go beyond what you can do on your own. Think about it. Each involved party comes with their own established audience, reputation, brand, networks and strengths. Some of them may overlap with your own but usually, they’ll reach people or own assets you don’t. More »