MySpace Teams With SnoCap To Sell Music
September 5, 2006 at 6:12 AM (PT)
MySpace.com has hooked up with NAPSTER creator SHAWN FANNING's SNOCAP,INC to develop new technology to enable site members to sell copy protection-free MP3 downloads of their original music directly through their MYSPACE Web pages.
While the initiative is still in a test phase, it has the potential to turn millions of independent or aspiring artists already using MySpace.com into online music retailers, by the end of the year.
MYSPACE CEO CHRIS DeWOLFE said, "A band in IOWA can now reach out to fans in LOS ANGELES.Now they have a great way to reach out to 6 million fans. Now they can actually sell their music on MySpace in an area where their fans congregate in a very contextual manner."
SNOCAP CEO RUSTY RUEFF added, "The distribution fee is small, it's evolving and we're continuing to structure it as we go. What we're trying to do right now is keep the costs as low as we can."
Bands will be able to set the price for each track, with MYSPACE and SNOCAP taking a cut of the sale. And their fans or friends on MYSPACE will also be able to place the online music storefront on their pages, potentially widening exposure for the bands. For more, just click here.