A new executive team at MySpace is trying to reignite the brand by focusing on entertainment - music, videos and games - as users leave for "cooler" destinations.

A new executive team at MySpace is trying to reignite the brand by focusing on entertainment – music, videos and games – as users leave for “cooler” destinations.  In a strategy shift, MySpace will try to become an online hangout for people who want to connect with their friends over entertainment content – like the speculated release date of an upcoming Interpol album, celebrity blogs, or a karaoke contest associated with Fox’s “Glee”.   As an entertainment site, MySpace would compete for ad dollars with a broader group of sites, including YouTube, Hulu, Pandora, and Lastfm,  in addition to the current social networking champion, Facebook.

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