MySpace Garners 1 Million New Users as Facebook Lends Help

Troubled social networking platform MySpace announced on Monday that the site has bagged over 1 million new users and that an average of 40,000 new users are signing up every day.

Adding more to the glory of the new owners of the site, it was also revealed that for the first time in a year, the traffic to MySpace was up. Though it's too early to make any conclusive statement, experts are saying that this new development is indeed a good sign for the site whose popularity was declining at an alarming level following the rise of other social media platforms such as Facebook and Twitter.

Two young investors, Tim and Chris Vanderhook along with Justin Timberlake purchased MySpace from its previous owner, News Corp, last year in June and ever since they have been putting up some desperate efforts to bring back its glorious past. News Corp - who bought the site in 2005 for $580 million sold it to the Vanderhooks at just $35 million.

According to the MySpace team, the rise in traffic during the last 30 days can be primarily attributed to the new music player embedded onto the site that gives users access to a library containing no less than 42 million songs.

[Source: The Register]