With today's reports about potential massive layoffs at MySpace, it bears noting the different characteristics that have driven the site globally.
For example, while they may share the same name, MySpace UK and US are quite different, according to Simon Daglish in this video below. Simon runs MySpace UK.
In the UK, MySpace primarily works as way for those passionate about music to find new or unknown bands. Highly content driven, MySpace has become a sort of online agency where artist can reach their fans and get a lot of information about who they are and what they like from the Artist Dashboard provided by MySpace.
The US version, on the other hand, adds another layer to the experience by focusing more on the peer-to-peer communication. More a Social Network than music site.
Looking ahead, MySpace UK looks to develop into a record label 2.0, meaning that they will develop stronger ties to the bands, help them organize gigs and eventually develop a variety of e-commerce models.