A Note to Myspace Music

For years I have felt that Myspace squandered the one thing it has always done well, music. I have scratched my head as I watched the platform go from an acquisition valued at over 500M to a near ghost town of a social network, at least as it pertains to mind-share.

Today, Digital Music News posted a blog that posed the question "Can Myspace break bands?". Reading the post brought me back to that head scratching state. To me the short answer is "Yes, they can!" However, I still hit a wall when I think of how quickly they wasted their influence.

Looking at the stats provided by Digital Music News you can see that Myspace music has an audience. In fact, it appears to be growing.





With over 6 million bands using the platform they have a wealth of content that they could be leveraging, far beyond simple advertising dollars. According to the study, myspace focuses on a newly signed artist (usually a major label act) and there is significant impact for a number of weeks. In all reality, the Myspace features work as a spark the ignites a social media fire. They light a match.... BAM, an artist lights up. Shouldn't that tell them something?

Myspace, here's an idea for you. Leverage the full weight of your power and offering. You're owned by one of the most powerful media enterprises in the world. You've got millions of bands using your platform and fans willing to go there to listen to their content.

First off, clean up your act. Your interface is so cluttered and broken people are reluctant to use it. Don't be greedy. More ads do not equal more revenue. Quality, relevant advertising equals more revenue. Keep it simple and your audience will appreciate it.

Next, don't focus squarely on the majors. There are hundreds of hidden gems buried within Myspace music. FIND THEM and then give lasting support. I'm not suggesting you be all things to all bands. But, by supporting emerging acts and bringing them to light, you'll bolster your own brand and increase your revenues as well.

If your influence can move a talented group from obscurity to notoriety then you too should share in the reward. Create a fair and equitable arrangement between your company and the indie artist that you've chosen to support. As they rise up the charts, share in publishing. Leverage your influence and help the artist get their music licensed within the other media products Fox develops daily. Use your news channels (both local and national) to build the press story for the artist you're supporting. Fill the tub so all ships rise. There's real money in it.

While Myspace is considered a thing of the past, you have a golden opportunity to take the one thing you've done well and use it to rebuild your company and your brand. Find the great unsigned artists within Myspace. Filter that content. Export it through your strong, powerful existing network and influence the landscape through the delivery of tomorrow's next top artists. You've got the content, you've got the audience and you've got the power to have a lasting impact. Use it and rebuild your brand and grow your future success. Ignore it and lose forever the one chance you have for salvation.