Okay, I just went to the site and honestly, looking at it, it looks like they're trying to be all about entertainment.
Maybe it could work.
I do know when MySpace first started WAY BACK it originally was a place where upcoming artists/bands could connect with their fans and vice versa.
Then it became popular and went far away from that so, maybe that's where they're trying to go back to? The original concept for MySpace? Just in a rebranding way?