Millennials may welcome the planned revival of Myspace with nostalgia, but analysts say the once-dominant social media platform faces an uphill battle in today’s crowded market, where algorithm-driven feeds and short attention spans shape user engagement.

Myspace owners Tim and Chris Vanderhook, co-founders of Viant Technology, recently appeared in the documentary Myspace, directed by Tommy Avalone, where they hinted at plans for another “relaunch” of the platform following an unsuccessful revival attempt in 2013.

“We still own Myspace. We are stewards of the Myspace brand at this point, and we are going to relaunch Myspace. We’re just waiting for the right time to do it,” They said in the documentary. “And if that one doesn’t work, we’ll do it again.”

Myspace, founded in 2003 by Tom Anderson and Chris DeWolfe, was acquired by brothers Tim and Chris Vanderhook in 2011. The platform became known for its quirky interface, highly customisable profiles, glittering designs and its iconic default friend, “Tom.”

Once the world’s most popular social media platform, Myspace attracted about 115 million visitors per month in 2008. However, it was soon eclipsed by Facebook, eventually fading into a relic of the Y2K era.

The Vanderhook brothers later sought to “modernise” the platform by building an “entirely new Myspace.” However, a revolving door of owners and the loss of advertisers to Facebook left the platform struggling to remain viable.

“It just became an onslaught of losses,” Tim Vanderhook said in the documentary. His brother, Chris, added that the company “lost a little over $150 million.”

The brothers, however, did not provide a clear timeline for the proposed relaunch.

If Myspace returns, it will enter a vastly different and increasingly complex social media landscape.

Major platforms including Meta’s Instagram, TikTok, Snapchat, YouTube and Reddit are facing growing legal scrutiny while also contending with rising concerns over digital fatigue among users.