As traditional media companies attempt to turn their Web properties into social networking sites, it seems that MySpace is evolving into a media company. The New York Times makes that point in an article explaining how MySpace, though still operating independently under News Corp., is taking on many of the characteristics of traditional media companies as it builds out its own content. The site has “become very mainstream. It’s about consuming content and discovering pop culture,” co-founder Chris DeWolfe told the Times, which goes on to say:
As a result, the MySpace site resembles a portal like Yahoo or AOL as much as a social networking site. Peter F. Chernin, the president and chief operating officer of the News Corporation, called MySpace a “contemporary media platform” and said the site existed to “create content and connect people to one another.”
A quick view of the homepage shows that the portal comparison is correct. New sections devoted to news, politics and celebrities all feature original or licensed content (in addition to the site’s traditional user-generated content, including, for example, links to celebrity MySpace pages). It’s a pretty clear indication of where MySpace is going, since the new content is a way to attract advertisers – the lifeblood of any media company – without soiling the personal profile pages of MySpace’s gazillion members.
I don’t know if the “mediatization” of MySpace spells doom to the purists who just go there to connect with friends. And there are plenty of people pointing to MySpace’s slowing growth as a sign that the site’s appeal has peaked, but if I were AOL, MSN or Yahoo – or any other media company trying to reload to stay competitive – I’d be plenty worried.