Justin Timberlake Becomes MySpace’s Creative Director

Justin Timberlake can’t find enough things to do that don’t involve him recording a new album. The singer-turned-actor, taking his role in The Social Network pretty seriously, announced that he has taken an ownership role in MySpace, and will help develop the social networking site’s creative direction and strategy. Meanwhile, Friendster remains undisturbed by any pop star magic.

“There’s a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect. Myspace has the potential to be that place,” Timberlake said in a statement. “Art is inspired by people and vice versa, so there’s a natural social component to entertainment. I’m excited to help revitalize Myspace by using its social media platform to bring artists and fans together in one community.”

And they’re just as excited to have him! “We’re thrilled about the opportunity to rebuild and reinvigorate Myspace,” said Tim Vanderhook, CEO of Specific Media, which purchased the site from News Corp. “We look forward to partnering with someone as talented as Justin Timberlake, who will lead the business strategy with his creative ideas and vision for transforming Myspace. This is the next chapter of digital media, and we are excited to have a hand in writing the script.”

Either JT is researching his upcoming role as Tom in the MySpace version of The Social Network, or he really thinks he can make people interested in the formerly popular social media platform. (And just how unpopular has it become? News Corp. bought the site for $580 million in 2005. At its peak in 2007, MySpace was worth about $12 billion. And they just sold it to Specific Media for $35 million. You do the math.)