Founded in 2003, Myspace became one of the internet’s premier social platforms and fiercely competed with Facebook before falling behind|Chris Messina|CC BY-NC-SA 2.0

The current owners of Myspace, brothers Tim and Chris Vanderhook, hinted in a recent documentary at a potential relaunch of the iconic social media network.

They confirmed their intentions to bring the platform back when the time is right, though no official launch date was mentioned.

Founded in 2003, Myspace became one of the internet’s premier social platforms and fiercely competed with Facebook before falling behind. It helped launch the careers of major artists like Adele, Lily Allen, and the Arctic Monkeys.

The platform was bought by News Corp in 2005 for approximately $580 million and in 2011 was sold for a reported $35 million to Specific Media and Justin Timberlake.

A 2013 music-focused redesign by the Vanderhook brothers failed to restore Myspace’s audience, resulting in canceled ad contracts and estimated losses of more than $150 million.

Despite these expensive setbacks, the owners remain committed to giving the brand another try.