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Thursday, April 03, 2008

MySpace Music Death Knell for Many

MySpace is completing the long overdue process of teaming up with the music industry on a streaming service, according to TechCrunch (citing Reuters).

This is huge news not just for News Corp. and the music industry, but also for the plethora of music sites such as Real's Rhapsody which will have an almost impossible task in battling MySpace. Sure, not everyone is on MySpace, but the majority of folks who consume music fit its demographic, so those who aren't will likely join.

Ad-supported streaming music is the future, and creating widgets and other smart social ways of sharing tunes is the music industry's last best hope for growth. There will still be a market for buying digital music, but the revenue growth will come from free streams. Music becomes like TV -- ubiquitous and a commodity that has great value for advertisers, or you can pay to enjoy it sans commercials. It's not such a bad fate.

By John Gartner at 09:33 AM | Comments (0)

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