Myspace Music is set to open its doors sometime this month, soon apparently, and given the features it will quickly become a magnet for advertisers.
The site will offer the entire catalogs of Universal, SonyBMG, and Warner Music; that’s around 77% of the entire US music market. Myspace Music will make all the music they have in catalog available free to listen, so long as you don’t mind the ads.
With free jukebox like that, they are sure to be hit with a huge flow of traffic – one would hope that their servers can cope and don’t suffer a Twitter-outage. With that flow of traffic, Myspace Music will have full advertising books for years – a real revenue cash-cow for the investors.
Will it prove to be popular? There is no doubt about it. Music is the one area of online marketing that has continued to boom. Everyone will benefit from this relationship, from the humble (and not so humble) artists to the buyers, and everyone in between. Myspace have hit on a winner and the doors have not even opened yet.
If you have the slightest relationship with the music industry then advertising on this new venture could prove to be a huge advantage. Will millions expected to access the site each day, just a tiny percentage of clicks could produce thousands of visitors. It will be interesting to see what sort of costs will be involved in advertising – I am sure it will not be cheap.
Myspace Music looks great, however, right now I’m using deezer.com and it’s AWESOME! A huge catalogue, a great interface, and quite good focuses on emerging artists! Great!