Will you make more music now that you’re a mogul?
MySpace was floundering. An online advertising company called Specific Networks has just acquired it for the bargain price of $35 million. I am not being sarcastic. That’s not a lot of money in business, and certainly not when you consider that Facebook, which is considering filing for initial public offering, is getting valued at anywhere between $50 - $100 BILLION.
$35 million is how much the Brange makes a year, what Justin used to make in a year when he was recording and touring. And while it’s not known exactly how much Justin contributed, he did put up his own money, and will play a significant role in re-energising the MySpace brand:
“There’s a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect. Myspace has the potential to be that place. Art is inspired by people and vice versa, so there’s a natural social component to entertainment. I’m excited to help revitalize Myspace by using its social media platform to bring artists and fans together in one community.”
Timberlake is not a good actor. But he’s a wonderful musician and, so far, just 30, has proven himself to be quite an astute business person with the clothing line, the endorsements, the tequila, etc. It’s a risky move as many don’t know if comebacks exist where social media is concerned; some things just pass their time, and while their time may be spectacular, it doesn’t last and they can’t come back. Like Color Me Badd. In our increasingly faddish reality, things just don’t seem to be built for longevity.
Having said that, JT’s ego couldn’t stand to be attached to a losing proposition. And he will do what he can to make this endeavour a success...including releasing new music? He now has a platform to market it – and doing it through MySpace is a two shot win. That could be just the incentive he needs...
Attached – Justin at The Tonight Show last week promoting Bad Teacher (which did very well at the box office last weekend taking in over $30 million, another female comedy win which he’ll probably take all the credit for) and Friends With Benefits.
Photos from Wenn.com