MySpace had a big summer "coming out party" planned for itself, to prove that it was full of new energy . Investor Justin Timberlake was going to be there and everything! Sadly, the social network had to cancel this party, because it continues to die.
"Plans for transforming the site into a hot spot for entertainment have been more 'incremental' than anticipated," a source tells the Wall Street Journal. Indeed, traffic was down 44 percent in August compared to the same period last year, according to ComScore. MySpace now plans to relaunch at the beginning of Advertising Week in New York next month. An ad conference is basically just as exciting as a Justin Timberlake party (in the same sense that MySpace is "basically" still alive).