Social Network + Online music = good business

Here are some good recent stats:

Social networks: Such sites play a growing role in music discovery and consumption, with 39 percent of all social network users having embedded a track on their profile But there’s an age gap – under-35s rate MySpace best for music, over-35s say YouTube; overall, only 16 percent of people rate Bebo top for music. Some 13 percent of users have actually purchased music they discovered at MySpace, 15 percent for Bebo, seven percent for YouTube – but 46 percent overall wish it were easier to buy the tunes they find at such sites.

So – we have a solid solution – mix in an embeddable player/store into it, and tie it into our p2p system and make it a holisitic download system.  Then pay users to promote the music they love and it’s a winner.

Beta is moving along, next big release is August 15th.

Posted on August 3, 2007 in Market

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