MySpace Buys iLike, Says It’s Doing Fine Without You (…please call)

MySpace announced today of its intent to purchase iLike, a music recommendation service that has been made popular through its integration with other Internet-based services such as Facebook, iTunes, Bebo, and yes – MySpace. As the majority of social network users have flocked to Facebook (+700%) this year, MySpace (-31%) has begun to feel like the next Friendster – slipping in both rank and hype in the face of other services such as Twitter. The question that begs to be answered is – How will it survive?.

This move may prove to be the edge that MySpace needs to solidify itself as the premier social music site. Many bands, local and national, rely on it to serve up news, their latest music, and tour information, often forgoing a website of their own in order to take advantage of the built-in audience (and support features) that MySpace provides. Perhaps MySpace is following the playbook of other companies that have risen from a tenuous business model to focus on what they do best, like IBM did when it dropped OS/2 from consumer PCs in 1995 and exited the PC market in 2004.

There have been no precise details on how MySpace will take advantage of their new acquisition, but according to a conference call with CEO Owen Van Natta, the discovery technology will be expanded beyond the boundaries of music and into other media categories such as videos and games.

While I prefer the simple, yet intimate format of social networks like Twitter, I am looking forward to seeing how MySpace will leverage its new purchase. But as you can learn from anyone who owned a Starter jacket, once you lose your cool, it’s nearly impossible to get it back.

One Response to “MySpace Buys iLike, Says It’s Doing Fine Without You (…please call)”

1. Hubert Gravitz says:

   February 23, 2010 at 11:18 pm

   myspace music at (mp3dumper) ( . ) net now

   Reply