Sunday, November 23, 2008

Don't Count Out MySpace

I haven't found a ton of value in MySpace over the past year with the inception and fame of Facebook and micro blogging services such as Twitter and Pownce. I was curious about the new profile editor on MySpace, so I spent some time there yesterday and came to this realization.

Their music service has to be the best on the web in the social music world. I have established by being there over four years a large list of bands and friends that have similar taste in music. I even met Janine over having similar tastes in music. We both like In Flames, so we owe Swedish metal ultimately for our meeting.

MySpace made news this weekend for streaming the new album from Guns and Roses, Chinese Democracy over their music service. It was reported on Friday that there were 826,000 listens to their new title track at a rate of 25 listeners a second going to MySpace to hear the much awaited album. That shattered any previous record and is potentially sending a strong signal to the music industry that it is time to embrace digital music and it's time to shed their antiquated model for selling and promoting their material.

So as other networks try to figure out their music model, there's still one easy choice for leaning about new music and that foundation is going to be enough to keep them around for a long time. The rumor of their demise is greatly exaggerated.