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Is MySpace Music Revolutionary?

11:15 AM Tuesday October 7, 2008

Tags:Internet, Social media

MySpace, as you may know, has entered the music business. Since I recently began making the case for the need for a new paradigm that allows musicians to use the Internet to support themselves, I wondered whether MySpace, the epitome of new media, was going to teach us all something.

And then I was walking through Times Square in New York City a couple of days ago and, as I got stuck at a corner behind a mob of tourists, I looked up (a rare occurrence for those of us who live here) and was surprised to see an ad for the Jonas Brothers.

Now, I've seen posters for the Jonas Brothers when stuck on many corners. But this one was an ad for MySpace Music. And, as one commentator notes, it's oddly situated right next to symbols of the struggling of traditional record companies, such as the Virgin Megastore and Bertlsmann's HQ.

But what I found to be the unusual juxtaposition was an already-famous band next to an alleged "revolution" in the music industry. It seemed, as I thought about the ad, to be telling your average MySpace musician that they weren't important.

Didn't social networking grow from satisfying the needs of the "long tail" to find each other? If I wanted to hear the Jonas Brothers, wouldn't I just buy the CD or listen to Radio Disney? How exactly is MySpace music helping musicians who aren't already in the top 40?

What do you think? Is the future of Internet music no different than music today, i.e. a hit-based industry with a few winners and a lot of people keeping their day jobs waiting tables? Or should the Internet really open up the possibilities for lots of unknowns to become known to their own world of fans?

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Comments

The myspace music model is the wave of the future. In this model, the consumers will become the promoters of artists. Unknown artists will get discovered, and ads will pay for the music. The more popular the artist's music, the more revenue they will receive from Myspace.
DRM is dead - the users have made their choice. The music industry is finally realizing that consumers define success, and in order to remain successful they have to become consumer -centric again.

- Posted by Ciprian Patrulescu 
October 7, 2008 8:28 PM

Ciprian,

I agree completely that DRM is ineffective (it causes more problems for the buyer than the thief). I also agree that we need a new model to fund musicians to create their art.

However, I wonder if MySpace's model really works. The ad revenue is heavily skewed to artists with the most downloads--and these are the artists that are already the most popular.

But the bigger question I have is: can advertising really support any significant portion of the 300,000+ musicians with pages on MySpace? And does that advertising money compare to what they earn from live shows, privately pressed CDs, and passing the hat?

How much advertising money really is out there--especially with the economic downturn we are in?

Let me know your thoughts.

David Silverman

- Posted by David Silverman 
October 8, 2008 7:26 PM

David,
I agree with you that the ad revenue is skewed towards artists with the most downloads and page views. I also agree with you that advertising money will not support a majority of bands. The question I have for you is: What is the alternative to this?

The music industry is not doing business the way it was in the 80's and 90's. In this age, bands will have to promote themselves, advertise themselves, and make a name for themselves. The cream will rise to the top, and the rest will sink.

Ciprian Patrulescu

- Posted by Ciprian Patrulescu 
October 11, 2008 1:10 AM

IMHO (and others have created and share this opinion)
every song should have a URL. and that URL should drive revenue for the artist. This (bare minimum) needs to be available and streamable ALL THE TIME. All music available in the ether... ALL THE TIME.

Advertising on the stream is very useful. Tougher to implement cleanly. But this WILL be a model for revenue for artists.

I think consumers will buy (value added) subscription services for music, participate in loyalty (measurement) programs (in exchange for free music), and accept timely, in-context advertising in exchange for music. (willingly)

I want MORE of the online revenues to make it directly to the artist. I think the LABEL, MICROLABEL, ONLINE SERVICES need to make THIS happen for the artists.

MySpace Music is the closest thing we have to this. I would really like these bastards to finish the job and create the ecosystem for indie artists. Somebody will. All they need to do, is pay the royalties, or at least try.

I think we need solve this riddle first.

- Posted by Eric Dawson 
November 11, 2008 3:46 PM

>> I agree completely that DRM is ineffective
>> (it causes more problems for the buyer than the thief)
You are making an assumption that there is a thief.

- Posted by Eric Dawson 
November 11, 2008 3:51 PM

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David Silverman

David Silverman is the author of Typo: The Last American Typesetter or How I Made and Lost 4 Million Dollars (Soft Skull Press, 2007). He has worked at brand-new start-ups, Fortune 500 companies, and a few places in between. A business writing teacher, he grapples with the way we use words at work—to make it easier for the rest of us. If you have questions about how to manage a problem at work related to communication, please contact David at dsilverman [at] harvardbusiness [dot] org.

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