MySpace to the rescue!

As I was browsing the RollingStone Web site I came across a very interesting article about MySpace and the music industry. Here is the article: MySpace Music Readies for Liftoff

So what does this mean for the music industry? There's really no say as to what may happen. With the way in which our world is today, people are accustomed to downloading free music. From Limewire to Bit Torrent, it has become so easy to access and acquire music that buying the products has almost become something we do not even think about anymore. Why buy it when we can just get it for free from our computers? In this article, MySpace states that they are going to offer streaming music for free on an ad-supported system. They will also offer the music for purchase through Amazon MP3. Many in the music industry are very skeptical that MySpace can help what has been a suffering business. In my opinion, MySpace is in a win-win situation here. It appears that they are getting money from each of the major music labels to put their music on Myspace's site, they are receiving money from the advertisements which are paying top dollar to be present on the site and they are going to make a percentage of money from the music that is purchased by the consumers. In my opinion, the music industry is the group that should be worried about making money. I thought this article made a great point. Why, when people are so used to just listening to streamed music, are people then going to buy the music? The music industry is being killed by the era of free downloads. But what other options do they have? At this point, the music industry has to do whatever they can to stop the bleeding. If that means selling out to the world of MySpace, then that is what the music industry has to do. Hey, it's all just business.