I Link You

Introduction

Welcome to my series of blogs that attempts to use simple economic analysis on issues that matter now. Although I already have a blog that links technology and economics, I have decided to make another blog which will specifically focus on social networking. Why do you ask? Well that's simple, because online social networking phenoms such as MySpace and Facebook are recently creating a maelstrom as tech and consumer electronic giants such as Nokia, Microsoft, and Apple are trying to get a slice of the action.

Each post will compile interesting news articles that I find on the web on social networking and reviews of alternative social networking websites that you may not be aware of.

First things first: MySpace enables users to sell music!!!

According to Yahoo! News, MySpace announced that it made a deal with SNOCAP, a digital music technology firm based in San Francisco. This technology will enable users the tools to sell their music in a digital storefront on the website's main page. Tom Anderson, MySpace president, believes that this will lower distribution costs and barriers of entry for many musicans struggling to get their names and music known.

What do I think of this? Well, it was eventually going to happen. YouTube is signing deals to enable people to view all sorts of music videos for free through its website, and there are no restrictions for musicians to broadcast their works through this site. Facebook is in the midst of a music promotion deal with Facebook giving free samplers for students that are members of the Apple Group. It may be likely that Facebook expands this to include college students' bands and enable a distribution network.

Before we know it, MySpace may even create its own record label. MySpace was initially created as a forum for musicians to share and publicize their music, so it was about time that MySpace enabled their founding members to sell their music online. With the 100-plus million users on MySpace, these musicians can now make some revenue off their creative efforts.

posted by Koh @ 6:08 PM