On the 16th, MIXI released a new microblogging SNS called “mixi2”, and the share price soared, reaching a new high for the first time in 6 and a half years. This SNS uses an invitation system, and the fact that it allows you to start with connections you can trust has attracted attention. Experts have mentioned their hopes for a revival in domestic SNS demand due to the reduction of noise, and there are also voices that see the temporary upsurge led by individual investors as “meme stock”.
This article is a brief summary and overview of the Bloomberg article (https://www.bloomberg.co.jp/news/articles/2024-12-17/SOM5JFT0AFB400). The following is a summary and commentary, with reference to the source.
Well, the story about MIXI starting a new SNS called “mixi2” by invitation only is quite an interesting development. I think many people who used to live in Japan used mixi in the past. I remember that the footprints function and the exchange of small comments became a place for friends to interact. But to be honest, at the time, if you left a footprint on someone’s profile without good reason, it would create a delicate atmosphere, and I think there was a unique sense of tension at the time.
At the time, mixi and GREE were the two biggest players in Japan, but in the end, Facebook and Twitter also increased their presence in Japan, and before we knew it, mixi and GREE had faded into the background. To be honest, at the time, SNS itself was still in its infancy, and it wasn’t as much of a ‘natural tool’ as it is now, so perhaps that’s why domestic SNS were able to rise to prominence. I think that many of today’s young people don’t even know about the mixi culture of that time.
MIXI later expanded into the game business, but to be honest, I personally didn’t play many MIXI games. I just couldn’t get into pay-to-play games. But there are many people in the world who enjoy them even if they have to pay, so I guess they were a major source of revenue. I probably wasn’t the target audience, but I think many users actually enjoyed them.
By the way, the term “meme stock” appears in the article, but a meme basically means “a topic that goes viral on the internet”. In other words, “meme stock” refers to the phenomenon where the stock price temporarily skyrockets due to the excitement generated by investors on social networking sites and in online communities. I think it’s an image of buying in based on the mood or fad of the moment, rather than on ability or business performance. It’s become famous overseas due to the GameStop stock frenzy, but I think there are times when that kind of atmosphere arises in Japan too.
Still, I do miss the days when it was by invitation only. Back then, it was a completely referral-based system, and you couldn’t get in unless you were invited by someone you could trust. The same is true of mixi2, and it may be an effective way to reduce spam and trolls. However, on the other hand, if it becomes too closed off, it will be difficult to attract new users, so the management will have to find a balance. It may be suitable for people who want to interact in a closed environment without worry, but it may not be enough for people who want to disseminate information widely.
One of the advantages of an invitation-only system is that you can feel reassured that no strange people will suddenly join. With the open SNSs of today, there are many spam accounts and unpleasant users, and it seems that many people are feeling SNS fatigue. On the other hand, with an invitation-only system, the person inviting people also has a responsibility. They have to think things like, “Is it okay to invite that person?” or worry about strange things like that. They might not invite someone if they haven’t met them in real life. That kind of psychological hurdle is a little worrying.
I think that the “short text SNS” on mixi2 is aiming to be a service like Twitter, Threads, or Mastodon, where you can post short sentences quickly. However, by combining this with an invitation system, it may be possible to create a number of small, safe communities. Even if you’re not good at using large SNS, if you can enjoy it with just your close friends, there may be a demand for that.
I never thought the old mixi would be attracting attention again, but there may be a certain number of people who still feel a sense of security towards domestic SNS. Although overseas SNS are convenient, there are also times when you feel confused by language and cultural barriers (maybe these barriers will be lowered a little in the future?), or by sudden rule changes. So when a new domestic service appears after such a long time, it’s no wonder that nostalgia and expectations mix together to create a stir.
However, it’s still not clear whether this excitement will end as a temporary boom or whether it will really take root. The rise in share prices is also a kind of “festival” situation. Whether this is a temporary fever known as “meme stock” or whether it is a long-term growth expectation, we won’t be able to judge that until a few months or years have passed. But at least it’s a hot topic right now, and the key to the future will be how many users MIXI can attract in the meantime.
As with any social networking service, if it doesn’t have functions that are easy for users to use and a pleasant community, it won’t last. If it’s an invitation-only service that sells a sense of security, I hope that this time they can really reduce the spam and make the connections between users something truly beneficial. Even if it’s not a real-name system, if it’s possible to post without worrying in a small circle of people you can trust, it might bring back the fun of mixi from those days, or it might even create a new kind of value. Anyway, I’m curious to see how it develops in the future, and I’d like to try it out myself if I get the chance.