Myspace’s Current Owners Explain the Site’s End and Why the Relaunches Haven’t Worked Despite A-List Interest

**Myspace’s Journey: A Resilient Vision for Revival**

Myspace, once the leading social media platform of the early 2000s, has seen a tumultuous journey marked by fluctuating ownership and changing trends. In a recent documentary titled “Myspace,” brothers Chris and Tim Vanderhook, the current owners, share their aspirations and the challenges they have faced while attempting to revitalise the iconic website.

The Vanderhook brothers acquired Myspace from News Corp with a vision to regenerate its appeal, particularly among artists and their communities. In the documentary directed by Tommy Avallone, the brothers recount the strategic thinking that led them to this purchase. Chris states, “We heard that News Corp were going to sell it, and we started to strategise how we got in there, because they weren’t calling us and they did not want to let us in.” Their determination to enter the fray highlights their recognition of the platform’s potential to support artistic expression.

To elevate their acquisition pitch, the brothers cleverly decided to involve a prominent figure from the entertainment industry. “The name we settled on was Justin Timberlake,” Chris revealed, referencing Timberlake’s recent success with “The Social Network.” They believed that linking Timberlake to their efforts would garner substantial interest. In an inventive twist, they crafted a fake press release announcing Timberlake’s involvement with their acquisition.

Tim detailed a pivotal moment when they met the News Corp decision-maker at a conference, noting, “He says, ‘You better not be f—king lying about Justin Timberlake.’” This pressure prompted them to leverage their connections to Timberlake’s team, leading to a dinner meeting with the pop star’s manager, Johnny Wright. This fortuitous encounter resulted in an invitation to meet Timberlake in New York, which Tim described as a “resounding success.”

The Vanderhooks successfully redefined Myspace, striving to modernise the platform for a new generation. However, they quickly realised they were taking on a project significantly different from its original iteration. Tim acknowledged the challenges faced after acquiring the website, saying, “By that time, they had been through four other sets of management and CEOs. We were going to be the fifth ones, and I think that there were a lot of people who were really just done.”

Following the acquisition, the brothers faced overwhelming adversity. “The minute the deal closed, things just started unravelling,” Chris recounted. An unexpected wave of advertiser cancellations soon followed as companies pivoted their focus to Facebook, leading to significant financial setbacks for Myspace. Tim candidly explained, “It became just an onslaught of losses,” while Chris disclosed that their losses amounted to over £150 million, describing the experience as being “incinerated.”

Despite these setbacks, the Vanderhooks remain committed to being the stewards of the Myspace brand. “We still own Myspace. We are stewards of the Myspace brand at this point, and we are going to relaunch Myspace,” Chris affirmed, underscoring their unwavering belief in the platform’s potential.

The brothers have expressed a determination to keep striving until they achieve success with Myspace. They understand that finding the right moment to relaunch will be crucial, saying, “And if that one doesn’t work, we’ll do it again.” Their perseverance reflects a broader sentiment of resilience in the face of adversity, a key quality for entrepreneurs navigating the volatile waters of the tech industry.

The documentary “Myspace” serves as both a historical account and a behind-the-scenes look at the inner workings of the siblings’ ambitious venture. As they reflect on their journey, the Vanderhooks provide viewers with insight into the complexities of reinventing a once-beloved social media platform. With their sights firmly set on the future, they embody the essence of hope and innovation, reminding audiences that even in the realm of tech, reinvention is an ongoing journey.

As the narrative of Myspace continues to unfold, Chris and Tim Vanderhook remain committed to their vision, demonstrating that the past can inform the future and that sometimes, a little nostalgia paired with fresh ideas can lead to the revival of an iconic platform.