Maybe Justin Timberlake was inspired by his role as Sean Parker, the founder of Napster, from “The Social Network” when he decided to bring Myspace back. Just last year, Timberlake bought the ownership stake in the company.

In September, the grandfather of social networks announced a new look with the video above. Instead of being a general social network as its classic version that launched in 2003, it appears the site is focusing primarily on gaining attention for artists.

In an interview with ABC, Tim Vanderhook, CEO of Specific Media (the company that bought Myspace in 2011), explained the target of the new Myspace.

“It’s for all artists. We think there is an opportunity for all artists, whether you are a filmmaker, producer or a recording artist. We think the idea to create something unique and drive a connection with a fan base has a lot of equity.”

Although the announcement video launched at the end of September, there is no hard launch for the site being built “from scratch.” According to Tim Vanderhook and COO Chris Vanderhook, there will be no hard launch of the site, rather it will be launched on a rolling basis. Users might see an opportunity to join the new site before the end of the year, although it’s currently on an invitation basis.

The classic Myspace look that launched many of us millennials into the world of social media won’t die though. Users can choose to stick with the traditional Myspace look or join into the new face of Myspace.

Timberlake explained that this isn’t a rebranding, but rather an opportunity for the trio to give Myspace an identity. According to Rolling Stone, 5 million unsigned acts are on Myspace. Some of the features on the site are geared specifically toward helping these artists connect with fans. For example, the site is set to provide bands with analytics that tell them where people are listening, among other information. Furthermore, this competitive advantage of the site gives users an aid in marketing themselves in the industry with helpful research.

Will this new platform under the familiar name of Myspace take off in the minds of millennials? It’s impossible to know. It seems that they chose historical, but prehistoric names in the mind of their target generation to introduce something fresh and innovative. I listened to Justin Timberlake primarily when I wore braces, and I had to hide my Myspace account from my parents when I was 14. I’m sure I’m not the only millennial who shares similar memories of these two cultural classics.

But from a different viewpoint, a celebrity has never endorsed the launch of a social network before to my knowledge, so Myspace is entering uncharted territory. Whatever the results, current and future social networks should pay attention to this launch, because I have a feeling it will be in social media textbooks one day. Whether or not we should applaud the dying social network for taking this risk remains to be seen. I’m not running out to sign up for an invite anytime soon.

Please share your thoughts about the new Myspace platform below.

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Posted in Social media marketing

Tags: artists, celebrity, Justin Timberlake, Marketing, Millennials, music, MySpace, perception, Social Media, technology