Got a call yesterday from a Washington TV station who were filming a segment on MySpace’s new music venture — which lets users stream on-demand pretty much every major label offering under the sun, as well as some indie stuff.
Her’s the sticking point, as we see it: The deal MySpace made with the majors was for equity stake (as well as a percentage of advertising). It’s very unclear whether the labels plan to share any of that equity with their artists, but if history is any indication, the answer is no. Also, there are TONS of indie artists left out of the picture, even though they’ve been one of the main drivers for MySpace (besides teen tarts and dirty old men). That said, the service could help a weakened industry regain some of its footing, by monetizing content on social networks, and making it seem "free" to the user.
While we’re on the subject of the flailing music biz, check out this curious clip from Kid Rock, who says kids should steal iPods and cars along with their digital music:
If this is over your collective heads, don’t worry — we’ll get back to bitching about politics soon.