Around the Net

MySpace Music Interview: Chris DeWolfe

  • Wired, Friday, April 18, 2008 12 PM
In an interview with Wired, MySpace CEO and co-founder Chris DeWolfe talks up MySpace Music, claiming that the forthcoming music venture from MySpace and (almost all) the major record labels will be the music industry's answer to online piracy. Why, because DeWolfe says the new MySpace Music offers so many ways for its music industry partners (who will have equity in the joint venture) to make money. Thus far, the venture partners are Universal Music Group, Warner Music and Sony BMG. MySpace is still in negotiations about adding the last music giant, EMI Group, as well as several independent labels.

DeWolfe claims (and we don't believe him) that MySpace Music doesn't aim to be an iTunes killer. "We're not trying to compete with iTunes," he says. "Downloads are just one of five or six revenue streams." The other money sources are sales of merchandise, concert tickets, ringtones and free streaming video and audio supported by advertising. "I think (MySpace Music) is going to be the central hub where everyone goes to find music," DeWolfe says, adding that users will go to MySpace Music to discover new music, join artists' community groups, and purchase concerts tickets and other merchandise. The key, he says, is offering a seamless experience to perform all of these functions.

Moving forward, DeWolfe says there's "a definite possibility" that MySpace Music will expand to include full-length movies and TV shows, just like iTunes.

Read the whole story at Wired »

Next story loading loading..