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January 25, 2008 / kaigani

Prediction: MySpace TV

It’s late for a New Year’s prediction, but here one is anyhow.

MySpace TV to launch a network channel

Given the crisis facing the music and film industries (namely due to their inability to evolve and adapt to the needs of the consumer) — it’s only a matter of time before they collapse.

People are wise to the fact that these industries are a big, fat, unnecessary layer between artist and audience — and absorbing an unfair share of the earnings.

However, it’s not a simple as:

1. Unknown band posts their music on a website
2. Band becomes incredibly popular via word-of-mouth
3. Band is now famous and able to sell their music and go on tour

One (perhaps the only) useful and necessary function of the music industry is marketing. If something goes into heavy rotation on MTV — it will become popular — and MTV isn’t scouring YouTube for the next hit.

The only solution is to combine the source of online user submitted content, the ranking system to determine what is popular, and the vehicle to market the upcoming hits to the mainstream, offline, audience.

One company has both the online and offline reach to do something like this: MySpace and News International (Murdoch).

Imagine a channel, in the mold of MTV, but highlighting only artists who have debuted on MySpace. XFactor/American Idol reality shows that originate online, and culminate on television. Videos (produced by MySpace TV) that can’t be found on the other channels, but are equally good.

MySpace TV … it’s gonna happen.

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