Courtney Holt Says New Features Will Hit MySpace Music

Although MySpace Music made a huge deal about its new approach to sharing music while making profits, many music executives had said that it was turning out to be a slow start. However to their surprise, we can all look at MySpace Music 11 months later and see that there have been a substantial amount of progress.

Since it’s launch in September 2008, the Los Angeles Times reports that the amount of users have gone from 4.2 million to 12.1 million gaining more activity more than MTV Networks Music and Pandora currently has now. At Fortune’s Brainstorm Tech Conference in Pasadena yesterday, MySpace Music chief, Courtney Holt, also hinted at the site’s upcoming features.

After spring co-founder, Chris DeWolfe, departed from MySpace Music, they have brought in a new team which will hopefully integrate music throughout the social networking site. Their goal is to reach more “taste-makers” online and have them become “social DJs” so that when they are highlighted, more of their friends will be influenced. More power to the taste-makers is a possible solution, but with a massive audience like MySpace’s, it can either do really well or be problematic when the bulk of their users are 12 – 24. Young people’s personalities change so frequently and their music tastes may not be so easily swayed.

There was also talk of new tools to promote concert tickets or merchandise on the site because 50% of these tickets go unsold. MySpace Music’s goal is to help middle-tier artists when they say “The No. 1 reason is lack of awareness. No. 2 is price.”