MySpace Set For Major Overhaul

Leading social networking site MySpace has appointed San Francisco-based agency Pereira & O'Dell to manage all marketing and create a new logo for a global relaunch of its brand. The move is aimed at positioning itself once more as a lead competitor for user popularity against sites like Twitter and Facebook.

This decision follows the release of figures from a recent survey by ComScore which have shown that MySpace's UK audience has dropped from 6.5m in May 2009 to 3.3m in May 2010, a 49% decrease. However despite this fall in user popularity, MySpace continues to attract key brands for marketing campaigns.

At this point it is not known what budget allocation the social network will invest in its overhaul. Pereira & O'Dell won the pitch over companies that included Goodness Manufacturing. Droga 5 and BBH.

The News Corporation-owned social network is due to be veiled its revamped site later this year.

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