Fischer is credited as being one of the first music executives to fully embrace digital technology, from his time as managing director of Sony Music Entertainment and Universal Music Group's Pressplay. His understanding of youth culture was deemed a major asset for leading MySpace's European development.
Prior to joining MySpace, Fischer founded Xlantic Group, the independent music and entertainment group. At Pressplay, he oversaw the company's internet music sales prior to its acquisition by Napster.
Fischer was also vice-president of AOL Europe and managing director of Compuserve UK, the latter during one of the key growth periods for the company.
Chris DeWolfe, CEO of MySpace, said: "David has been immersed in Europe and pop culture for over 15 years. As such, we believe he will quickly be in tune with our UK users' wants and needs.
"This is consistent with how we have always driven our business -- based on our users' passions."
Fischer said he would "further develop the aspects of MySpace that makes it unique, including its diverse and extensive content and the innovative ways that it can work with advertisers to deliver fantastic results for brands".
Last week, it was reported that MySpace was planning to auction off its search function facilities to either Google, Yahoo! or Microsoft.
Rupert Murdoch's News Corp, which bought MySpace last year for $580m, is keen to increase the revenue potential of MySpace by tapping into its 57m registered users worldwide, 3m of which are UK-based.
MySpace, a social network portal, is credited as having phenomenal potential for anticipating youth trends and culture through its integrated network of blogs, instant messaging, online streaming and forums.
MySpace faces stiff competition from rival portals in the sector Facebook, Friendster and Bebo, which received an £8m injection from Benchmark Capital, owner of Irish pay-TV group Setanta, to invest in the portal's user-generated content technology last month.
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