MySpace has launched a music store for online members based in the US so they can tune it for no cos. They would pay for downloads formula, according to media reports. Users to avail this service are required to buy a copy of a track from Amazon’s music store to hear it on their portable players. The new MySpace Music just boasts a few thousand tracks, but would have ‘many millions’ soon.
This will be ensured by teaming with and tapping the partner labels that thrown open their archives to the new online store. According to an estimate, not less than five million bands along with individual artists have their comprehensive profile pages on MySpce. The website has greatly helped many upcoming, talented artists to launch their career. As well as making money from adverts that run on the page through which listeners can select the music the service would also generate revenue from ring tones, merchandise and concert tickets.
James McQuivey, a research analyst at Forrester, said,
“The big question is whether they can change their environment so people will wish to do their shopping as well as their gossiping at MySpace.”
He doubted whether the music store would become a major source of revenue for MySpace. Studies suggest that people do not usually watch their PC when using it to stream music..