September 4, 2006 at 14:13MySpace will sell unpopular music
The social network MySpace does everything to prevent teens from cooling it. Soon, network members will be able to sell their own music on the site. Millions of potential buyers and minimal deductions for an online storefront - teenagers seem to be pleased.
MySpace announced its intention to take the first step in the music business on Friday, Reuters reports . Social network users will have the opportunity to sell music online. That is, it is not about the next showcase for large labels, but specifically about a platform for beginners or non-professional musicians.
The assumption that the service will be more than in demand is confirmed by the figures: there are about 3 million bands in the MySpace network who do not have enough money to sign up for a studio and promote their name.
There are also enough buyers in MySpace - the network’s audience is estimated at 106 million people. Not so long ago, the site came first in popularity in America, overtaking Yahoo and Google . The top management of the network has the ambition to create a service that would become a worthy alternative to iTunes , and they may justify themselves.
It is planned to make musicians happy by the end of 2006. Authors can sell their works on their own pages in MySpace and on the pages of their fans. Files will be placed in copy-protected MP3 format, which supports many modern players, including Apple's iPod. Musicians will set prices for the goods themselves.
According to MySpace representatives, Snocap Inc. was the technology developer. All files put up for sale will first be checked by a special service for possible copyright infringement.
The expected percentage of deductions to the MySpace account has not yet been named. It is known, however, that it will be quite small, since the company is going to keep the price level low. It is also announced that eBay has been invited to work with MySpace., as well as PayPal - through this payment service, most likely, settlements will be made.
MySpace announced its intention to take the first step in the music business on Friday, Reuters reports . Social network users will have the opportunity to sell music online. That is, it is not about the next showcase for large labels, but specifically about a platform for beginners or non-professional musicians.
The assumption that the service will be more than in demand is confirmed by the figures: there are about 3 million bands in the MySpace network who do not have enough money to sign up for a studio and promote their name.
There are also enough buyers in MySpace - the network’s audience is estimated at 106 million people. Not so long ago, the site came first in popularity in America, overtaking Yahoo and Google . The top management of the network has the ambition to create a service that would become a worthy alternative to iTunes , and they may justify themselves.
It is planned to make musicians happy by the end of 2006. Authors can sell their works on their own pages in MySpace and on the pages of their fans. Files will be placed in copy-protected MP3 format, which supports many modern players, including Apple's iPod. Musicians will set prices for the goods themselves.
According to MySpace representatives, Snocap Inc. was the technology developer. All files put up for sale will first be checked by a special service for possible copyright infringement.
The expected percentage of deductions to the MySpace account has not yet been named. It is known, however, that it will be quite small, since the company is going to keep the price level low. It is also announced that eBay has been invited to work with MySpace., as well as PayPal - through this payment service, most likely, settlements will be made.