Myspace rebranding strategy speaks to Young Hispanics.

Myspace announced a new brand, beta website, and a suite of products that together redefine the company as a social entertainment destination for Gen Y. Myspace is creating a rich, highly-personalized experience for people to discover content and connect with other fans who share similar interests. The entertainment experience will span music, celebrities, movies, television, and games and will be available through multiple platforms, including online, mobile devices and offline events.

With young Hispanics, 16 to 25, making up 18 percent of the U.S. Gen Y population and approximately 20 percent of Myspace users, the redesign will be particularly attractive to the fast-growing bicultural young Hispanic market segment. Hispanic youth are characterized as the country’s fastest-growing market segment; early adopters to social media; trend setters; and technology savvy, and the new Myspace content mix speaks directly to their entertainment interests.

“This marks the beginning of an exciting turning point for Myspace.  Our new strategy expands on Myspace’s existing strengths – a deep understanding of social, a wealth of entertainment content and the ability to surface emerging cultural trends in real-time through our users,” said Mike Jones, CEO of Myspace.  “Myspace is unique in that it is powered by the passions of our users, who program the site by expressing interests, sharing tastes and knowledge around particular topics, and scouting out up-and-coming subcultures. This is the just the first step, and there will be many more features, programs and improvements to come.”

Myspace will also focus on promoting curators – a subset of its audience whose reputation and knowledge around particular entertainment topics and emerging cultural trends make them uniquely influential – by supporting them with the resources, tools and platform to expand their reach within the Myspace community.