MySpace Music Announces…Well, a Joint Venture April 3, 2008Posted by David Card in Media.
It’s impossible to evaluate the MySpace Music announcement until more details emerge and the product itself launches. But this is clearly a keystone event in digital music, with lots of potential. This is in the same league with Amazon doing a DRM-free MP3 store in terms of Big Deal-hood, if not quite up to the original iPod or iTunes.
– MySpace has an existing huge audience who have shown they like to listen to and discover music there
– It has a good track record supporting a broad variety of artists
– Doing this as a joint venture means three of the big labels have skin in the game
– MySpace is farther along than any other social media player in working with advertisers. But that’s not saying much
– Audio advertising while someone’s listening is going to have to play a role in digital music. Yes, I mean “like radio.” That nut hasn’t been cracked yet
– Who knows how big the ad supported catalog will be, and whether it’s truly an on-demand experience? I guess we’ll see, but consumer expectations are likely to be very high
– Amazon’s got a great digital downloads store, and it’s a retailer, and it doesn’t seem to have juiced digital download sales yet. Still watching that one
I suspect we’re going to see aggressive co-sponsored, highly interactive media campaigns involving music, viral passalong, and personal expression. No kidding. Let’s see them, guys.