Wednesday, May 06, 2009
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.