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Report: Pres. Of MySpace Music To Step Down

MySpace's employee departures continue to add up

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In fairness to MySpace: its brand recognition is off the charts, and it still receives traffic for which many sites’ owners would kill.  But just about everyone who doesn’t work for the unit agrees that it’s declining, and now it looks like the president of MySpace Music has joined that crowd.

Peter Kafka reported this afternoon, "Myspace Music head Courtney Holt is stepping down. . . .  Sources say Holt doesn’t have another post lined up.  But the real news is that he was still at the site, which is a joint venture between Myspace and the major music labels."

Consider that MySpace’s traffic levels have been falling sharply for at least the past year.  That’s not the sort of pattern many execs associated with their name.

Also, remember that different people at both News Corp. and MySpace have been pretty open about the possibility of a merger, spinoff, or sale due to losses.  Again, not something to brag about during a job interview.

Holt may have plenty of career options, though.  Kafka speculated that he might land elsewhere within News Corp., or at Spotify.   Or even at Apple or Google.

Meanwhile, MySpace CEO Mike Jones is supposed to take over MySpace Music in Holt’s absence.

Report: Pres. Of MySpace Music To Step Down
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  • J. S.

    Finally Mike Jones getting some much deserved recognition. Rep it.

  • http://buildingasheds.com Frank Winter

    The fact that traffic is dwindling for the myspace websites seems pretty obvious as the ere is virtually no advertising for it any where … It all seems to be Facebook this and Face book that.
    Perhaps the myspace people need to consider morphing into another niche like music and video to recapture the lost subscribers. I know my business in shed building does not rely on myspace anymore – because the average sample group has changed. The fact that the president left the company is a tell tale sign – but could be lack of insight. Myspace, time to come of age once again and rethink your future. Cheers, Frank Winter.

    • Guest

      They already tried re-branding myspace as an entertainment hub, but that hasn’t caught on. It’s like throwing a party. You can hire the best entertainment, but if no one attends it’s still a lame party. That being said, I believe the only asset myspace has at this point IS their music. Regardless of whether you visit myspace, a google search of an artist often times will have tracks from that artist (from myspace) at the top of the google search.

      Like, for example: http://lmgtfy.com/?q=sleepytime+gorilla+museum

  • Tom

    THAT IS JUST TOO FUNNY. CHASE CAREY AND JONATHAN MILLER ARE TWO OF THE BIGGEST LIARS IN THE CORPORATE WORLD.

    Here are the facts, Carey and Miller were given the opportunity to change the direction of MySpace last year with a proposal that would increase net profits of MySpace to 1.5 billion dollars by the third year.

    Based on our experence with News Corp, Carey, and Miller no one should trust any of them.

    They wanted us to disclose the plan to them without any written agreement in place. When that was refused, there were no further discussions.

    I would venture to guess anyone they claim to be offering more than 10 million dollars for MySpace would be another one of their lies.

    It is believed that the damage that Carey and Miller have done to MySpace has brought the value of MySpace down to nothing.

    Anyone willing to pay the 50 to 200 million dollars MySpace alleges would mean one of two things. EITHER THEY LIED TO MYSPACE ABOUT WHAT THEY WERE WILLING TO PAY,,,,

    OR MORE LIKELY IS NEWS CORP, CAREY, AND MILLER ARE LYING LIKE THEY ALWAYS DO IN AN EFFORT TO DRIVE THE PRICE UP.

    TIME WILL TELL!!!