Watch this space: Network finds a new platform

In Los Angeles last month, major investor Justin Timberlake told reporters that the new Myspace is not so much a rebranding as a ‘completely new platform’ focused on connecting artists with fans, and enabling artist-to-artist communication.

Known in the past for its bewildering customised profile pages, Myspace will now have the design and integrated feel of a tablet magazine. Users can navigate through high-resolution graphics, mix tapes of audio and visual content, and status updates with horizontal scrolling. 

Spotify has lost some of its appeal recently as restrictions have been imposed on listeners. Meanwhile, YouTube has succeeded as a music platform in part because Millennials and Generation D want visuals alongside their music. The free, visually rich new Myspace may find a niche in a crowded market after all. 

See our Future of Music macrotrend for more on changing listening habits.