MySpace 'needs to become cooler'

Social networking site MySpace needs to regain its old edge or else change direction, according to a competitor.
Neil Stapley, founder of content networking website Dadooda.com, said: "Although MySpace has plenty of equity in its brand, all the talk is about Facebook and Twitter. MySpace needs to get itself back on the same agenda or to reassess its strategy."

"Currently Twitter is cool, as is Facebook, just about. MySpace seems to have lost that cache," he added.

Mr Stapley explained that the majority of social networkers are still young and internet savvy, ensuring they have little brand loyalty and are always ready to move to the most up-to-the-minute webspace.

He added that as long as social networking is free, users will continue to swap and change between brands.

Last weekend, it was reported that MySpace concluded negotiations to acquire social music service Imeem.

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