Major Record Labels Form Joint Venture With MySpace

from the to-do-what-exactly? dept

There's been some buzz about this all week, but now it's official that MySpace has teamed up with three of the four major record labels (the smallest, EMI, is still holding out, though it may join eventually) to create a joint venture offering called MySpace Music. The company is separate, but connected to MySpace. Unfortunately, the details are incredibly vague. So far, it seems to say that the new company will "let people listen to tunes and watch videos for free on the Web, as well as buy merchandise, concert tickets, and music through downloads." That's a pretty broad description, and while it sounds good upfront, execution is everything. And, historically, the major labels haven't executed particularly well when it comes to creating online music offerings. Already, it seems like they're hedging by saying that they're not committed to offering DRM-free music from this service. In fact, it often seems like these efforts are designed to fail. So, let's take this as a tentative step in the right direction, though with the expectation that the labels will likely do something to screw this up along the way. At the very least, it's the labels recognizing they need to change -- even if they still haven't come to terms with how to actually change.

Filed Under: business models, music, record labels, social networks
Companies: myspace, sony bmg, universal music, warner music


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  1. identicon
    Reef About, 7 Apr 2008 @ 10:48pm

    Not a good attempt

    The music labels are loosing massive ground and revenue and yet still persist to gain control. They are the middle man with a good name but that is fading.
    This is another attempt to 'understand' the consumer but all the consumer wants is to listen to their favourite music. Why not embrace new technology? I believe the only reason music lovers go to the illegal website is to use something that is easy. Not because it is free. OK there will be a small amount of retards who steal music but real fans want to pay but they have no means to do this easily. MySpace is not easy. It is clunky, old school and the music labels are just an agency... all gloss and glam without the brains.

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