• by Gavin O'Malley  @mp_gavin, May 17, 2010

MySpace has hired David Donegan as its new senior vice president of marketing, where he will oversee the company's marketing, entertainment and events teams and strategies. Based in MySpace's Beverly Hills office, Donegan will report directly to the company's co-president, Jason Hirschhorn.

Donegan most recently served as managing partner of Kastner & Partners Interactive, where he was responsible for the overall strategy, implementation, and management of the brand, as well as product lines for clients, including Red Bull and Qualcomm.

"If there is one thing that is core to my marketing philosophy it's the understanding that a brand must resonate with its audience, particularly since the rise of social media and digital marketing," said Donegan.

Once a digital darling courted by industry kings, MySpace has struggled during the reign of Facebook.

Earlier this year, News Corp. reported that digital media earnings were down $32 million compared to a year earlier. EMarketer, meanwhile, recently predicted that ad spending at MySpace would fall 21% this year to $385 million worldwide. What's worse, the $900 million shared ad revenue deal between MySpace and Google is scheduled to expire in August.

In February, MySpace came up with new product strategy under the slogan "Discover and be Discovered." The strategic shift came on the heels of CEO Owen Van Natta's removal, and the subsequent promotions of Mike Jones and Jason Hirschhorn to co-presidents.

"It's so important for MySpace to embrace its brand heritage and return to the roots that enabled the company to grow into the household name it still is today," Donegan said on Monday.

Prior to joining Kastner & Partners Interactive, Donegan spent six years as the director of interactive marketing for Red Bull, where he oversaw consumer and interactive marketing areas, and was credited with reorganized marketing activities to better focus on the youth market.

That initiative included creating an interactive marketing department, directing the creation of content and digital campaigns, and leveraging grassroots ambassador programs.

Earlier in his career, Donegan worked in entertainment production and development at NBC Universal and CBS.