It’s really great to see MySpace maturing its business model. There has been plenty of talk over the past months about the social networking site not having a model to derive revenue.
At the 06 AlwaysOn Innovation Summit, Chad Hurley, CEO of MySpace, looked very smug when the conversation headed in this direction.
The news that unsigned bands will be able to sell their music directly to MySpace members marks an important inflection point. Om Malik calls it: MySpace Records.
Keeping to their core value proposition – bringing people and music closer together is wise. There is plenty of time to move into other verticals as their brand grows from strength to strength.
