MySpace has fallen off the horizon when compared to other rivals such as Facebook and Twitter.

The yester year saw several lay-offs, management changes, and a dwindling amount of audience. It is also said that the revamped sit will focus more on media and music, where the users can listen to playlists and songs that their friends are sharing via their status updates.

The struggling social networking site wants to create a new era for the MySpace users that is exclusive and has enough potential to lure away users from other social networks, such as Facebook and Twitter.

According to Co-president, Jason Hirschhorn, MySpace will supposedly expand to 200-300 million from the present 100-120 million members.

Trade Analysts claim that the strategy that MySpace is building around music and media; will have a tough time in near future a competition has much more to offer. Rivals such as Google who are experimenting with this new platform will offer little or no space to 'MySpace' to grow.