I just read an AP article on washingtonpost.com which reported MySpace the online community has decided to launch a record label and start pumping out music. The first release is scheduled drop on November 15, 2005 and be filled with independent artists. With Samsung reportly entering and then not entering the music business and AOL buying MusicNow this week it makes me wonder, why there is an influx of companies so interested in the music industry? Is the music industry that profitable?
I love music and will be interested to see how well this new label does. I will also be watching how MySpace integrates the music business into the online community site.
For some of the blogosphere perspective on MySpace's new record label check out posts on BMID Innovation_Technology_Design, LabelsDotCom, davidleblond.com, and TechBlog.
