MySpace's new owners, Justin Timberlake and the Vanderhook brothers, Tim and Chris, are planning a major revamp of the one-time social networking giant. As new Entertainment chief Roger Mincheff told TheWrap, "the revolution is coming."
Already the site -- which Timberlake and the Vanderhooks' Specify Media bought from News Corp. in June 2011 -- has launched a new music player. But Mincheff says that's just one small part of “a new MySpace coming that delivers on the legacy -- meaning music, social -- but brings so much more in terms of assets and experience.”
Also read: Rupert Murdoch on MySpace: 'We Screwed Up in Every Way Possible'
MySpace will produce a slew of new original video programming that will air on MySpace and will be syndicated to other outlets. It will also be in the business of acquiring content from new media studios like Electus.
The timing of this launch remains unclear, but with Timberlake running the show, MySpace is taking another run at turning itself into a go-to destination for social entertainment, and Mincheff, a former Fox exec, has been tapped to run its entertainment wing.
Also read: Sexy's Back: Justin Timberlake to Lead MySpace's Creative Strategy
Charged with developing and acquiring -- and even syndicating -- original video content, Mincheff talked with TheWrap about this new, secret social-media plan, Timberlake’s role in the company and how you reinvigorate a decaying brand.
What brought you to MySpace?
Justin used a phrase once that kind of hooked me: "You’re not cool because you say you’re cool -- you’re cool because you do something cool." MySpace has to do a lot right, but content is one of them -- and content is a differentiator. Justin and the Vanderhook brothers represent such a force, such an energy.
At MySpace, we can build and make great content that helps brand us and build equity in the company. That’s what everybody is trying to do. We have this phenomenal differentiator because no matter what you think of MySpace, when you look at the roster of bands, musicians, comedians and models that have come off of MySpace, we arguably are one of best farm systems in the world.
As someone who worked in branding at Fox, how do you evaluate the MySpace brand -- and how can you improve upon it?
MySpace has unbelievable brand awareness. In the most recent-brand awareness study, we’re right below Facebook. The next obvious question is: "Great they know you, but what do they think of your brand?"
And…
We can’t ignore fact that there’s a brand issue we have to address. But we have three things going for us.
One, there’s an incredible passion and nostalgia for the brand.
Two, what an unbelievable story. I’m going to age myself, but I can’t think of a story other than Lee Iacocca and Chrysler that would speak to what happens when MySpace completes this journey.
