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MySpace Music = Major Money?

MySpace Music = Major Money?

Laura Locke chats with MySpace CEO Chris DeWolfe, about the recently announced launch of MySpace Music, an MP3 retailer and apparently much more. How will MySpace Music compare to iTunes? And, how long until there’s a film equivalent on the popular social networking site? From the Wired interview:

Wired: Will feature-length movies and TV shows also be sold via MySpace?

DeWolfe: I think it’s definitely a possibility, but when you’re running a site of this size you sort of have to pick and choose what your strategic objectives are, and music has always been a part of MySpace’s DNA…. In terms of doing this with other content, we may, but this is a major step.

Wired: Four years ago, MySpace conducted focus groups with users to find out what their “dream music service” might look like. Based on that user feedback, is MySpace’s community willing to pay for music downloads?

DeWolfe: Definitely. We have 110 million unique users [per month], so it’s not really a niche community. Virtually everyone I know on MySpace has an iPod; there’s no reason they wouldn’t be buying music. I think one of the issues in the past has been people have been engaged in piracy and stealing music because it was really convenient. To download a song on MySpace Music will be so convenient, we believe they will pay for it…. There’s going to be a lot of impulse buys.

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