MySpaceTV By Spring Of 2012: Digital Entertainment With Social Network !

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I am an Industry analyst by profession. Too much passionate about social media,companies, mobile industry. Wants to be a successful entrepreneur in future.

It looks like MySpace is re-strengthening its business to bounce back on internet industry. Today, at CES event Company Co-Owner Justin Timberlake has announced that MySpace is going to launch Television by the spring of this year. MySpace TV will help users in sharing their views about the program which users and their friends will be watching in real time through the MySpace online network.

MySpace is entering the television market in collaboration with industry giant Panasonic. Under this collaboration, Panasonic will launch its new version of television set which will support functions of MySpace. This kind of collaboration is not new as Google had already launched Google Television in collaboration with Logitech last year, which tuned out to be billions of dollar loss for Logitech.

“Myspace was the first successful social network because it allowed individuals to share their interests, listen to music, express their creativity and connect around the things they love.  Historically, TV has been a shared experience, as people gathered together to watch their favorite programs.  Our belief was that we could enhance the TV experience by increasing viewers’ ability to connect to both content and each other.  By partnering with Panasonic, we’re bringing together the content that people love and a social experience in one service: Myspace TV”, as said by Tim Vanderhook, CEO MySpace.

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Few year back MySpace was the lone social networking site on internet world and was the heartbeat of many online users across the globe. But with the arrival of Facebook limelight faded down. However, after the acquisition by Specific Media last year, things started turning around in favor of MySpace. Company has tried to bounce back with the enhanced music platform which has helped company in trapping more number of users in last few months.

However, MySpace has become the first social networking site to venture in television segment. The initiative has been driven due to constant decline in number of users on its network. Currently, MySpace user base is around 50 million which was 500 million in 2007.

MySpace TV will enable users to find out what’s hot, trending, what’s their friend are watching or what their favorite celebrity commented. It will also help users to get the information about their favorite shows and will also enable real-time engagement with their friends.

One of the most impressing features, which will be embedded in MySpace TV, is the music library and video collections that have more than 42 million songs and over 100,000 videos.

MySpace is working hard towards implementing wide range of music channels. It’s also working hard to add more number of broadcasters to be lined up all time for users.

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If MySpace will succeed in adding these features with its television, it might result as the revolution in entertainment industry. However, it has got stiff competition ahead from Google, Apple and Sony as they are also planning to implement various innovative ideas in television segment. It might be possible that in coming years we see various advanced features in television sets. One can also say that 2012 might result as the revolution in the television industry.

(Source:- MySpace)

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