Myspace has certainly proved its usefulness as a social medium. Myspace has contributed to the success of many musical artists because of its technological setup for the profile. The profile lets music be played upon the page being first opened. In Paul Levinson's book New New Media he discusses the success and downfalls of myspace.
Levinson points of the negative aspects of myspace when he talks about its "cyber bullying". The situation of Lori Drew and Megan was tragic, but it was an unexpected outcome. This situation involved an older user fraudulently using a younger persons profile disguise to reek havoc on a younger user's life. The bad things that have happened on myspace are rare and that do not counter balance the good things.
I agree with Levinson when he talks about myspace as "the one stop social media cafeteria". Myspace provide all the benefits of facebook and more. Myspace's presentation of its profile page allows for the dominance it has over facebook for advertisement purposes. Myspace's profile page allows its user to design the page for a more promotional style. Myspace has many benefits for advertisers throughout the internet as a social media.