Last night MySpace unveiled a new events page, integrating close to 1 million concert listings and links to purchase tickets, providing the company with another potential revenue stream. It’s a great product roll out, however the odds are against the social networking behemoth who has seen traffic consistently slide over the past year.

Personally, I think MySpace has a greater issue at hand and while relatively “small” product roll outs will help illustrate that not all is lost at the company, MySpace needs a broader strategy. Right now it appears as though the company is dead set on playing the portal strategy, a strategy which has proven to be a short-term play in the past, and which failed for numerous other companies (AOL serving as the best example).

The problem for MySpace is attempting to serve as a conversation hub for a relatively disjointed community. While music has served as the primary glue, holding the company together, MySpace hold more risk from aiming to be a “general community”. Where Facebook connects users with their friends, MySpace has a more disperse network of users.

One potential route for the company? Creating a network of social news communities (that aren’t on the site). There’s pretty much no reason for most users to return to the site because all their friends are on Facebook. Then again, this is the same play that AOL has attempted with mixed results. The upgraded events product most definitely embraces the site’s core strengths, which is a great start.

The real question is whether the company can roll out more products which not only embrace the strengths of the company but create new ones.