MySpace Music may be in a strong position to influence the development of online music, but analysts and industry pundits appear underwhelmed by what’s on offer.
We know that 12 per cent of European internet users visit artist pages on social networking sites and that they are also more likely than all other online music consumers to pay for digital downloads and listen to online radio.
However, independent artists are already angry with the new MySpace offering as the service has refused to reach an equable deal with them. And they see this a potential collusion among the major labels, each of whom actually own a stake in MySpace, a place for major label friends.We think this scathing criticism of the service from Bob Lefstz is well worth repeating:
“Content is not king, distribution is. That’s what gave the major labels their power. They could get the records in the store and get paid for them too! But with anybody able to get their stuff on iTunes, the labels needed another monopoly. Hence, MySpace Music.