The once popular social network Myspace has scraped plans for its summer press event to show off the revamped music-focused version of the site.

The purpose of the event was to show that the social network still had life in it yet, despite much lower traffic numbers and interest from advertisers. Myspace attracted a mere 33 million visitors to the site in August — a 44 percent decline compared to a year ago, according to comScore.

Changes to the site were “incremental” and not moving fast enough for a summer reveal, according to a Wall Street Journal report.

In June, former Myspace parent company News Corp. sold the social networking site for $35 million to Specific Media, who also announced a partnership with music artist Justin Timberlake (also an investor).

The new plan is to reveal the revamped site at the Advertising Week event in New York next month, which will apparently feature a concert hosted by Timberlake and others.

Irvine, California-based Specific Media was founded in 1999 by brothers Tim, Chris and Russell Vanderhook. The company operates many offices around the world.


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