MySpace has been in trouble for a long time, but you don't need me to tell you that. Since Facebook became the reigning social network several years ago, most people don't even bother to log in to MySpace anymore. Many people have deleted their profiles, and many other profiles sit neglected.

This week, the COO of News Corp. (MySpace's owner) announced that the site has "quarters... not years" to rebound and start making money again. That won't be an easy task: The site lost $156 million in the quarter that ended in September.

If the company's rebranding efforts fail to draw people back on the site, what would bands -- who are still very much dependent on MySpace to disseminate their music and to find gigs -- do? Facebook just isn't as musician-friendly, and Bandcamp doesn't give many options. Perhaps bands will return to PureVolume, which once rivaled MySpace as a site for indie musicians but now I'm surprised even has the funds to throw a party at South by Southwest.

Hopefully MySpace will be able to reinvent itself in a way that concentrates on its music-related strengths rather than, say, bringing online more 13-year-olds.