MySpace to Turn Songs into Cash
April 18, 2009 by Allison Boyer
Filed under Business
MySpace, which was once the king of social networking sites, is now turning to their thriving musician profile option in hopes of raising some money. The new MySpace Music homepage allows users to download songs inexpensively from Amazon – and the networking site takes a cut of the profits.
Image: MySpace.com
Facebook overtook the #1 spot a year ago with over 200 million users around the world. MySpace is still a respectable second, and they still lead Facebook in active users per month, but some believe that they’re losing steam. Since buying MySpace in 2005, billionaire Rupert Murdoch hasn’t seen much of a profit.
You can read more about the plans to make more money from music here.
