Facebook Attempts to Save the Music Industry…By Taking Myspace’s Place
By Candace Butler
According to Forbes, RootMusic will be announcing today that it has raised $16 million in funding. Where is that hefty wad of cash going? To make Facebook the go-to place of music, allegedly.
Says Forbes:
“Founder J Sider says he plans to use that capital to establish Root Music as the go-to place for musicians on Facebook. The company’s free plug-in lets bands share songs and videos, post upcoming shows, sell tickets and even band merchandise without the cost and hassle of dealing with third parties. “
Although Facebook refuses to admit that any music app is in the works, it sure seems to be true since they’ve recruited Spotify‘s designer Rasmus Andersson last year. Marketing Week also contributed that they believe the working title for the new app would be “Vibes.” The idea is that people will find music by seeing what their friends “like,” what songs they are listening to, and which concerts/live shows they are attending. A real go-to place for bands and musicians as well, word on the street has it. Sounds familiar. Sounds very familiar. Sounds exactly like Myspace, actually. Wonder how Justin Timberlake, who recently became a shareholder for myspace, feels about this.
What about you? How do you feel about it?
Wednesday, August 31, 2011 2:56PM
Is this the sound of desperation? Facebook is dying fast as Google+ rises and this won't save it.
Wednesday, August 31, 2011 4:34PM
I love the concept, who ever does it. I think Facebook has the numbers and coolness advantage over Myspace. But why does this conversation only ever center on music? Why not visual artists like actors, painters, independent film makers, authors etc. I'd LOVE to see a place where ALL artists can showcase their talents and the public can easily discover them. Let's make that happen.