Myspace prior to Myspace Music had pretty much every band in the world signed up to the service, that doesn’t mean they use the service frequently. Then when the service launched the changes were so minimal, but now Myspace had to offer the four major labels and some minor distributors a revenue share and possibly even equity. What did Myspace get in return for this revenue share and even equity deal? Not much at all!

The way Myspace and their music section is setup has not really changed. Myspace still provides exclusives on albums, myspace tours, and featured videos. Recently Youtube started a test with adding affiliate links to video pages, but this seems to be the obvious revenue stream Myspace Music is missing out on. With all the music that is on Myspace Music I can see them launching an Amazon Mp3 competitor very soon, and if they don’t they are out of their minds. In the meantime I would be adding affiliate links to each myspace profile, this could be added in a box under message area in the left column of every profile.

Myspace Music has been trying to find a new CEO for at least six months, and the job keeps on getting turned down, why? No one actually wants to be Myspace Music CEO because there is really no direction at the moment and for them to make changes they have to go through many levels of hierarchy.

Myspace Music has a great opportunity to build either a web app product or even a music product offering, but it will need to find the right person to run the show! Currently, Myspace has offered a revenue share to all the major labels and have nothing in return, and this has to change sooner rather than later, or they might be in a little trouble when it comes to hitting Murdoch’s revenue targets.

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