MySpace plans to start selling music downloads before the end of the year, marking the first broad attempt to turn the fast-growing online community site into a commercial powerhouse.
Many aspiring bands make their music available free of charge on MySpace as a way to promote themselves. Giving them an easy way to sell their music was the next logical step, said Mr DeWolfe.
Anyone with a presence on MySpace will be able to upload their music to the site and offer it for sale on their own page. Though they will be able to set their own price, MySpace will establish a minimum figure to cover the costs of running the service, with any money above that divided between the site and the artists.
The lack of any anti-piracy software built into the system is likely to make it unappealing to mainstream acts, according to analysts. The songs will be carried in MP3 format, meaning once downloaded they can be freely copied and shared with other people.
The financial analyst interviewed in the article says this will ultimately be a failure because none of these “long tail” bands are going to break out into the mainstream and bring myspace with them.
Must be too young to remember The Doors and Elektra Records. No doubt there are other examples.
This is great news!
Now, Kevin Federline might stand a chance of selling some singles.
Plus he must forget that MAJOR bands have their content on myspace, plus its onlty a “failure” if the goal is to set up MySpace as a next iTunes. It’s more sounding like a model similar to how mp3.com used to be.
Yet another “Me too” business venture…
But, if this works, it MAY just convince the record industry that they can make money without screwing their customers. That would be lovely.
What happens to these guys when SpiralFrog.com starts up in a few months. If the SF service actually works, and if the ads aren’t too intrusive, then places like iTunes, MySpace and others that currently, or plan to eventually sell music will be out of business pretty darn quick.