Latest statistics suggest attempts to kick new life into MySpace may be failing.
Tech industry analysts comScore say figures show MySpace lost more than 10 million unique users worldwide between January and February.
There were almost 63 million users of MySpace in February 2011, down from more than 73 million.
Year on year the site has lost almost 50 million users, down from close to 110 million in February 2010.
The loss of users comes despite a series of changes to the site to make it more about music.
It was the social network site that helped launch the careers of artists like Arctic Monkeys, Kate Nash and Lily Allen.
But so far this year MySpace has already announced plans to cut half its workforce.
Falling numbers
Around 500 staff are going worldwide.
Five years ago it was booming and for many was the first place to visit to talk to friends and listen to music.
But the arrival of sites likes Facebook has changed the face of social networking.
In the UK, 2.3 million people used the site in February 2011.
Rupert Murdoch's News Corp bought the company for £330 million back in 2005.
If they were to sell today, they might get as little as £50 million for it.
MySpace boss Mike Jones has been putting a brave face on the falling numbers.
He said the site is no longer a social network and is instead an "entertainment destination".
But with competition from YouTube, streaming services and increased file-sharing it faces tough times.
Social networking website MySpace lost over ten million users between January and February 2011, according to . In February 2011, the Internet website had less than 63 million users, down from a previous total of approximately 73 million. In the same month, 2.3 million individuals were on the site in the United Kingdom.

In the space of one year, MySpace has also suffered a number of user losses approaching fifty million. Earlier this year, MySpace announced their intentions to eliminate five hundred jobs around the world, which equates to half of its employee total. 

MySpace has contributed to the success of British music artists, including ,  and the . In 2005,  purchased the social networking site for 330 million (529 million, 376 million). Five years ago, the site was proving to be largely popular, according to ''''. Recently, the website has been facing difficult competition from other Internet websites, such as Facebook and YouTube and has now been modified to be more significantly based on the music industry. ''Newsbeat'' has reported that the value of MySpace at present may be £50 million (US$80 million, €57 million).

MySpace's   has claimed that the website is "no longer a social network anymore" and that it is currently a "social entertainment destination". Zack Whittaker, of business technology news website '''', has commented that he "would be surprised if MySpace survives the year".