Murmurs on the net suggest that MySpace Music could soon end its policy of free streaming.
Here's the lowdown from Side-Line Music Magazine:
The free streaming on MySpace may soon be history. According to people close to the News Corp. owned company, MySpace wants to move its MySpace Music section to a paid model. At the moment MySpace is rumoured to be spending $20 million/month (!) on streaming royalties. However sources close to MySpace say that the royalty payments are a lot lower although the service is indeed burning money at a fast pace. Fact is that News Corp. have a huge cash flow problem with the company. The Google search deal is up this month and MySpace sees a $300 million/year in revenue evaporate.
Read the whole article here.
This strikes me as bad news. For all of its heinous flaws, MySpace has served a valuable function for allowing musicians of all talent and popularity levels to expose their work, a serious boon for them and for listeners (and the leeches we charitably call "music journalists"), despite the accompanying slow-loading pages and ocular rape.
Musicians: If MySpace ends up sucking even harder or folding, where will you host your music online? If you've already bailed on MySpace, which site do you think is best to promote your art? Personally, from a purely listener's perspective, I'm pro-SoundCloud and Bandcamp.
2
3
6
9
10
13
Comments (13) RSS