On Friday, MySpace announced to the press that they will be creating their very first attempt to enter the digital music industry. The popular online teen destination will begin by selling full fledged downloadable songs from about 3 million unsigned bands. MySpace faces havy competition though, besides iTunes Music Store, there are the other small digital music rivals as well. MySpace.com's portal has a huge advantage, having already gained 160 million users (making them the most visited site on the web). Executives at MySpace say that their main goal is to become the biggest and eventually d
ominate all others within the market; including iTunes. They plan to host independent bands who have not yet signed with record labels and give them a chance to sell their music on MySpace, via their MySpace pages and/or fan pages (legally). The prices will be decided by the bands and will include a MySpace distribution fee. I think its a great idea. They will feature songs that you can't find anywhere else... not on iTunes... not on Kazaa etc. This way they will definately lure in a larger audience looking to discover and download. This will again hurt major record labels due to the fact that artists will now start to launch their own careers without the need of major record labels.
Will you think MySpace will do well within the digital downloading market? And what does this mean for the record industry as a whole? Leave a comment and BLAB on>>
On Friday, MySpace announced to the press that they will be creating their very first attempt to enter the digital music industry. The popular online teen destination will begin by selling full fledged downloadable songs from about 3 million unsigned bands. MySpace faces havy competition though, besides iTunes Music Store, there are the other small digital music rivals as well. MySpace.com's portal has a huge advantage, having already gained 160 million users (making them the most visited site on the web). Executives at MySpace say that their main goal is to become the biggest and eventually d
ominate all others within the market; including iTunes. They plan to host independent bands who have not yet signed with record labels and give them a chance to sell their music on MySpace, via their MySpace pages and/or fan pages (legally). The prices will be decided by the bands and will include a MySpace distribution fee. I think its a great idea. They will feature songs that you can't find anywhere else... not on iTunes... not on Kazaa etc. This way they will definately lure in a larger audience looking to discover and download. This will again hurt major record labels due to the fact that artists will now start to launch their own careers without the need of major record labels. Will you think MySpace will do well within the digital downloading market? And what does this mean for the record industry as a whole? Leave a comment and BLAB on>>
This one kind of surprised me, but it might actually work for MySpace. Clearly, digital music sales are an arena that somebody with a decent product setup could take some market share away from iTunes.
ReplyDeleteAs for the major record labels, if these guys were smart they would work WITH the new digital outlets instead of against them.