MySpace's Second Act: 'A Window For Youth Culture'

MySpaceIs it me or does it feel as if everyone has written off MySpace as the next Friendster. With all of the media fawning over Facebook and Twitter, and the reality that MySpace has been struggling and going through changes (losing users, founders leaving, widespread layoffs), my sense is that many people in the tech/media world aren’t very optimistic about MySpace’s prospects. Granted, I haven’t logged in for months and primarily use Facebook, but I’m also 37. I’m going to play the contrarian and argue that everything I’ve read lately about how MySpace is planning to reposition itself makes me optimistic that the site could emerge stronger than ever by literally going back to its roots of being a hub for young tastemakers. Or as this MySpace insider shared with the UK Telegraph:

Moving forward, the network will focus on being a window for youth culture to reflect all their creative talents. Facebook has won the social networking war and now MySpace needs to focus on what it can bring to the table.

While I agree with danah boyd’s thesis that there has been a degree of “white flight” among youth from MySpace to Facebook, I also believe that growing youth Facebook fatigue, combined with a new and improved MySpace could bring some younger Facebook users, especially those who are creative, or who are tired of reading their parents’ status updates, back to MySpace.

While Facebook has made it clear they want to be for the masses, MySpace is sending their own “moon man” with a a new flag reasserting itself as a “window for youth culture.” They are building on their early days as a community populated largely by twentysomething musicians, artists and other creative tastemakers/self promoters in L.A., but on a much larger scale. I think MySpace has a shot at becoming the number one…

 
 

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Millennial News Feed

Quote of the Day: “Anyone with natural beauty [inspires me the most when it comes to health and beauty]....everyday people more than celebrities or those with heavy makeup or fake bodies.” –Female, 32, NY

Comparing the app usage of the graduating class of 2015 to last year’s grads shows some apps are cooling down, while others have only gotten hotter. A survey found that Snapchat has experienced one of the biggest usage gains, at a 32% increase. But that’s nothing compared to Spotify, which this year’s teens say they are using 78% more than last years’. Meanwhile, Pandora use dropped 11%, perhaps showing the increased streaming competition is impacting them. (Daily Dot)

Millennials are starting to buy houses. According to a Realtor.com site visitor survey, 65% 25-34-year-old respondents said they intend to buy a home within the next three months, compared to 54% in January. Millennials have also reportedly “pulled ahead” of Xers as the largest segment of home purchasers. We’ll have more on Millennials’ house-buying behavior, preferences, hopes, and dreams in our quarterly trend report, coming out next week! (Bloomberg)

Many brands are donning rainbows and posting pride messages in the wake of the Supreme Court decision to legalize gay marriage, and Facebook is giving all its users a way to show their excitement. The social network has a tool to add a rainbow filter to any profile picture, to broadcast support for the decision. We’ve been tracking Millennials’ views on LGBT rights for some time, and the majority of the generation believes the government has an obligation to protect the rights of LGBT individuals. (DigidayFast Company)

Millennials are better savers than many expected them to be, but women 18-33-years-old are saving half as much in their 401(k) as their male counterparts. There are a few reasons for the disparity: Millennial women’s median annual income is still lower than men’s, and they are more likely to be working part time jobs. Millennial women are also carrying a bigger debt burden, with an average of $20,000 in student loan debt, versus male’s $14,000. (Fortune)

Young consumers’ views on privacy are complex. While Pew found Millennials are the most likely age group to be against NSA surveillance policies, another report finds that “an overwhelming majority" are willing to trade privacy for security. When asked “how willing are you to accept inconveniences and a loss of privacy in exchange for better security,” 34% of Millennial males and 46% of females said they are not bothered if it doesn’t impact them too much. (Business Insider)

Our Q2 2015 Quarterly report comes out next week! Four times a year, Ypulse digs deep into three major trends we see changing the way that young consumers view the world, impacting how they behave, and shifting what they expect from brands. Each trend is backed up with recently fielded data on 13-32-year-olds, Ypulse’s expertise on why the shift is occurring, and the most relevant takeaways for brands who want to appeal to Millennials and teens. Here’s a sneak peak of what’s going to be inside! (Ypulse)

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