MySpace To Start Ad-Supported Music Streaming/Download Service
Posted on February 19, 2008
Filed Under News
Looks like MySpace.com is in talks with four major record labels to start a music streaming / download service. Why "streaming / download"? Well, I'm not really sure whether it will be a music streaming or download service. According to PaidContent, MySpace will be offering free music download service but other sources could not confirm the statement.
From what I heard, MySpace is 'just' talking and there are no confirmed reports or statements made by MySpace yet. A MySpace spokeswomen has declined to comment.
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The latest attempts at new music distribution are to give music away free, but it's a fallacious business strategy, whether SpiralFrog, Qtrax or Baidu in China. Unfortunately, this is unsustainable from a cost/revenue perspective, and counterproductive to the music retail market. The digital ad industry is simply not big enough to support the digital music industry.
Digital music market is now at $30 billion and rising (including illegal downloads). While digital advertising is only at $20 billion and slowing.
There's an excellent analysis at Brooding Savage blog: http://www.broodingsavage.com/business-analysis/ad-supported-music-2.html