Ever since Facebook took over…everything, MySpace has become the abandoned outlet mall of yesterday, the mighty hero that fell oh-so-far and sold for a measly $35 million. But Justin Timberlake, who ironically played a role in the Facebook movie “The Social Network”, hopes to revive the struggling website by using MySpace as a platform for an X-factor style talent competition.

“There’s a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect.” says Timberlake, “Myspace has the potential to be that place….I’m excited to help revitalize Myspace by using its social media platform to bring artists and fans together in one community.”

When it comes to interactions between fans and entertainers I still believe Facebook is king. However, one thing that MySpace did have which Facebook lacks is the ability to really individualize ones page.

While this may have contributed to the slow load time of some profiles, it still allows that essential facet of branding for bands. In MySpace, entertainers can have their music automatically play in the background as well as change the overall look and feel of their page.

Timberlake’s manager Johnny Wright says, “We definitely want to bring the industry back to MySpace to really look at the talented people that have put their faces there.” Whether or not the talent show will be a singing competition like American Idol or an all out lollapalooza like America’s Got Talent is still something they are mulling over.

Can Myspace successfully brand itself as a hub for music and entertainment? Will a MySpace talent show restore the website to its former glory?

Tell us your thoughts!

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