Murdoch buys Myspace.com
The news that Mr Murdoch has invested $580 million basically to purchase myspace.com highlights once again that this is the space to be playing in.
Murdoch’s advisors have been wise enough to recognise that the riches here are to be made in purchasing an existing community, with a proven track record of sticky, oft returning behaviour (the quality of the product’s not too bad either).
It will be fascinating to see where the TV angle takes the network. I’ve had many thoughts in terms of how to utilise the cross-media arena (mostly ripped off from other proven and beautiful concepts, it has to be said 😉 and the average conversation with Imran here at FT/Orange/Wanadoo tends to throw up extraordinary, bonkers and rather beautiful concepts (pop up video style Flickr notes for online shows?). If Murdoch’s advisors are still who I think they are, then that kind of thinking will be at the forefront of what they will want to achieve.
A sign of the times also that *at last* Murdoch has officially set up an intenet division, instead of trying ad-hoc investments in this and that over the years.
Will it spread to Europe and Sky? Will they launch the Myspace community strongly in the UK? It’s a strong moneymaking market for Murdoch. It makes sense to.