Monetising Myspace music

On 05 September The Guardian reported that Myspace is planning to shortcut record labels by giving artists the chance to sell their music direct to consumers via the popular social-networking site.

Whereas previous generations of artists required agents, managers and labels to publish and promote their music, it seems likely that the content-generating generation will relish the opportunity to take control of their artistic destiny.

Online infrastructure has empowered people in many ways. It has enabled them to wrestle back control of their media consumption from broadcasters, to engage in small-scale commerce without overheads, to express uncensored opinion as citizen journalists. Diginative Myspace artists who have grown-up with these new powers and freedoms will surely relish the opportunity to apply eBay and Adwords-taught marketing methods to their own creative product.

Record labels everywhere should be afraid. Very afraid. The chace to vastly increase their share of sales revenue will be too good for many up-and-coming bands to resist.