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Thursday, April 3, 2008

And then this...WHOA! Social networking evolves!

Just read this release; MySpace + Sony BMG + Universal Music Group + Warner Music Group to great a JV - I was typing up a column for a magazine and the subject of it was the future of social networks and what they'll evolve into...this press release was so timely!

This must be one of the coolest mashups I've seen on the social networking front - wonder how much MySpace will be making per track, and all other related services, sold via this integration - imho; this type of partnership, if executed upon properly and delivers as promised/positioned, could become the model for mass revenue generation via, and by, social networks (surpassing the "old" banner ad advertising attempts)...

The story here, simply put, is all those music companies exposing all their music/video content, DRM free, for sale to the largest social network on the net - not just for sale either - full ecommerce andthird party sponsorship integration with awesome prospects and derivitives. Here are some interesting evolutions of how this will be roled stated in the article..."iteratively";

(Side niggle: You FaceBook boys...BEACON sucked...this is how you make real money from your community! You iTunes folks - this may eat your cake! Amazon - shoulda, woulda, coulda...didn't! Walmart - whatever! Ha!)

The product vision for MySpace Music - creating a fully integrated 360 degree global music solution.

The MySpace Music product will integrate new content and music capabilities across three primary areas: the MySpace Music home page, the site’s more than 5 million artist profile pages, and individual user home pages, providing bands and fans multiple touch points to discover, share, and purchase music and merchandise in one place for the portable device of their choosing. MySpace Music empowers bands and fans with unprecedented digital music service and e-commerce platform within MySpace that will include DRM-free digital downloads, ad-supported audio and video streaming, a mobile storefront (powered by News Corporation’s Jamba mobile company), as well as various sponsorship solutions.

For users, MySpace Music will have the richest music experience on the Web by enabling the site’s global community to discover music and then download, stream and personalize music content. The personalized music management product will allow users to control their entire MySpace Music experience directly from their user page by creating playlists and having access to enhanced purchase opportunities and search functionality.

For the labels’ artists, the formation of MySpace Music will offer them the opportunity to provide their fans with digital downloads as well as mobile ringtones, SMS, and artist wallpapers, all directly from their artist profiles. Additionally, artists will be able to evolve their MySpace experience beyond the promotional by now monetizing their full repository of content with a 360 degree solution including not only the sale of digital content, but also physical goods such as t-shirts and concert tickets.

Immediately, the new MySpace Music will be able to tap into the world’s largest library of content to offer unique audio and video content for the MySpace community.

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