Music: MySpace’s Killer App
Tech Crunch offered an interesting piece last week about how, while Facebook is larger than MySpace globally, MySpace still dominates the US. Why? Well, they postulate that is MySpace’s stranglehold on music.
Here’s an excerpt from this excellent thought piece:
Facebook, by contrast, has no real internal music strategy. Artists can set up Pages to promote themselves, but the pages are no different to any other fan pages (for example, no streaming music) – there is nothing music or artist specific on the site.
Next month MySpace is rolling out a new music joint venture with the major labels that will have music streaming, playlists, downloads, merchandise sales, ring tones and other features. It’s not only likely to be a major destination site for music but also a significant revenue driver for MySpace and the labels (a little may trickle down to the artists as well).
Music is a huge part of what drove historical MySpace growth, and I believe it is a major factor in perpetuating their lead over Facebook in the U.S. market.