My Space’s decline was mainly due to a series of factors that didn’t make this tool as easy and comfortable as its main competitors Facebook and Soundcloud who has now become one of the most popular music uploaders. Well, the chief executive is thinking about a new plan for giving a new light to the first significant social network of our generation. It’s hard to give more details about the strategy but the team anticipates its user value, who will be provided by a new experience and not just a duplication of the previous model. While his main competitors stand for streaming services as Spotify and Deezer, one competitive advantage will be the analytic system who is inglobed in it and allows to know “who’s listening to”. It’s not uncommon that an A&R, as in the past, could find this tool more suitable for music research and selection, and once again this could be another positive feature. Another component that provides a competitive advantage, will be the design content and in particular the component of “fun” who is represented in it. The new product is named Specific Media and and the main focus will be on music. In addition it can analyse, through its new technology, who are the most engaged artist’s fans.
However, there is still uncertainty regarding the future profitability of the platform but a new step towards an improvement of the relation between audience and artist seems to be the key factor.