MySpace Music Sees Major Money in Free Tunes
I was shocked when I was reading this interview between Wired Magazine and MySpace CEO and Co-founder Chris DeWolfe and this went down:
Wired: Is MySpace Music open to giving equity deals to digital distributors such as The Orchard or Ioda?
DeWolfe: We’re open to extending our equity deals to the right partners, but at a certain point, you can’t extend equity to everyone. What we originally set out to do was create a platform where every artist in the world would not only have a free promotional platform like they do right now — we’re providing a free service — but also to create additional revenue streams for them.
My eyes bugged out momentarily. Kudos to Laura Locke for asking and boo hiss to DeWolfe for basically saying “mmmm, NO” and then rattling off what sounded like “the fact we even let their indie artists use the site for free should be good enough!”
