Rosemont Associates, MySpace continues to try to get its top spot back from Facebook.

MySpace the social networking site has agreed to buy music recommendation service iLike.

MySpace used to be the number 1 social networking site has agreed to buy iLike for an undisclosed fee. MySpace is keen to win back customers who it has lost to Facebook in recent times.

Earlier this year Rosemont Associates reported how MySpace made some redundancies as it felt the company was becoming to bloated and they wanted to get back to the dynamic company they all new when they started out.

Rosemont Associates analyst understands where they are coming from, the larger they got the slower they moved as a company as corporate structure takes over. By being lean they can respond to the competition quicker.

Rosemont Associates feels that the success they had became their downfall, and it is now trying to reinvent it self with the ethos that it had when it started out.

Sources told Rosemont Associates that iLike is a good addition to the new look MySpace and it will add value to the customer experience. The idea is to keep current MySpace users involved and try to get back the lost customers, most of whom use Facebook.

Facebook has overtaken MySpace as the number one social networking site, it has done this in only two years. Rosemont Associates analysts feel that it will be a tough ask to win back Facebook users but it may grow as it targets new customers. The problem being is that Facebook has gained a huge reputation in recent weeks and was recently on the Opera show.

Rosemont Associates explains that MySpace have a team that has been there, and they have made the right decision to become more agile, in the tech world the landscape can changed quickly so you never know what’s around the corner.