Three Record Companies Team Up With MySpace for Music Web Site.
The last time we blogged about Myspace (at least in a context other than simply linking to a band's myspace page), was the last paragraphs of
this post from last October. October '07 seemed to be the height of the VC/tech/enterpreuner blogosphere being dismissive of "low brow/white trash/ghetto" Myspace compared to the Ivy walls of Facebook. At the time, we said while it was easy to make fun of Myspace, dismissing it seemed stupid because there was clearly something interesting going on there with respect to the distribution and discovery of music.
Yesterday's announcement in the NYTimes confirms that our guts were right. Three of the Big 4 record labels have struck a partnership with myspace to allow their entire catalogs to be streamed at a new music site. The site will be free, with a subscription based model being considered.
We think this really has the potential to challenge iTunes. Myspace continues to try to change the game. It'll be interesting to see what happens, and it'll be interesting to gauge the reaction from the VC/tech/enterpreuner blogosphere.
