Wednesday, May 06, 2009

MySpace Getting Heat From Music Execs



More bad news for myspace.com. As if it wasn't enough that Facebook overtook their market share last December and has since been increasing the gap, music executives are now up in arms about the revenue MySpace is generating for them. In a board meeting last month, MySpace Music CEO Courtney Holt was criticized by board members because of sluggish performance in sales generated by the social media website.

It will be a tough battle for Holt to overcome the online music monopoly shared by iTunes and illegal peer-to-peer sharing.

2 comments:

Meerkating said...

I just watched an interview with Virgin founder on some site (cant remember) and he pretty much said his music bega business has died. So there you go.

Brother Wolf said...

I have always thought that Myspace was riding high on it's past success - Instead of seeking to improve it's product. While Facebook did it's best to live that old fashioned mandate - Give the customer what they want.

I have a Facebook page for my storytelling podcast and so far I have 147 followers witch is nice i I ever need a little bit of media spin.