David Emery OnlineRecord Labels Strategically Invest $2.8M in MOG
Universal is really investing in the music orientated social network space, which makes a lot of sense – they must spend a very significant amount of money on both advertising on social networks and effort in trying to get good promotional placement on them. It’s pretty unnerving though – you don’t want the market leader (with about 33% total market share) controlling – what is essentially – the presses.
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I think the concept of streaming and embedable music (that is paid for by either direct advertising or a royalty structure) is definitely the future of music on the web. However, it’s worth noting that I think this is a companion to traditional digital retailers, not a replacement.
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Note to startups: don’t base your entire business model on other peoples content that you don’t have the rights to use.
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