In many ways MySpace’s move into selling music was an obvious move, since it’s a site that has a huge following of both music makers and music lovers.

Until now MySpace has been a marketing tool for music makers, allowing music lovers to sample music from a range of mainstream and independent acts. It’s not a huge conceptual leap for MySpace to actually sell the music.

Following the announcement it’s been interesting to read how different journalists have reported the story.

For example, Robert Levine of the New York Times, wrote that MySpace may be a serious competitor to iTunes, which has so far dominated online music sales. According to Levine, Tom Anderson, president and co-founder of MySpace had said: “Instead of going to iTunes and searching for music, which happens once in a while, you can see the band and buy their music.” Levine also reported that MySpace will charge artists 45 cents per track sold.

The other interesting point that Levine made was that while the big labels may be uncomfortable working with MySpace, “the labels may need to weigh risk of online piracy against the potential reach of a MySpace store”.

Mark Sweeny of The Guardian, agreed that MySpace’s music store would be challenging iTunes. While Jeremy Kirk of the IDG News Service emphasized that the music download market was a very crowded space, and that some sites were giving away music for free.

Obviously the MySpace music store is all part of Fox Interactive’s strategy to monetize MySpace’s popularity. As time goes it’s interesting to watch more of the jigsaw pieces fall into place.

Posted Tuesday, September 5th, 2006 at 7:12 am
Filed Under Category: Uncategorized
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