(CNN) Social networking company Myspace has apologized for apparently losing 12 years' worth of music uploaded to its site, following a server migration error -- a loss potentially amounting to 50 million songs.

The Los Angeles-based company, which was once a leading music-sharing platform, announced that content uploaded to its site from its inception in 2003 up until 2015 may no longer be accessible.

"As a result of a server migration project, any photos, videos and audio files you uploaded more than three years ago may no longer be available on or from Myspace," the company said in a statement on its website. "We apologize for the inconvenience."

Myspace was the most popular social media site between 2005 and 2008, before Facebook overtook it.

The site is credited with helping launch the careers of numerous artists, including Kate Nash.

The site is credited with helping launch the careers of numerous international artists, including Kate Nash, Arctic Monkeys and Calvin Harris, who were discovered on the platform.

Read More