Dive summary: 

• MySpace is working to have a brand revival of proportions that have never been attempted before with it's "new MySpace" design and potential brand partnerships. 
• The beta version of the new MySpace launched in January; with the site redesign MySpace offers brands some potentially valuable content opportunities. 
• MySpace boasts the largest streaming music collection in the world, has close partnerships with the ad world through it's ownership by Specific Media, and with new MySpace the site features written editorial content, radio stations, music mixes and videos.

From the article: 

"While this all sounds promising, the issue brings to mind the old question: If a tree falls in the woods and no one hears it, does it make a sound? Old Myspace’s audience at its height reached over 100 million users. According to ComScore’s numbers, new Myspace’s best month over the past six months was May 2012 when it got 32,650 unique visitors"