MySpace CEO: We Don't Care About Selling Music

Perhaps it's no surprise half of "MySpace" went missing in the company logo's recent redesign (the word Space was replaced by a space — get it?). At the LeWeb conference in Paris Wednesday, MySpace CEO Mike Jones seemed to give up on the potential of MySpace as a music service. The site has remained a destination for music fans, even as it conceded its social networking side to Facebook. Yet Jones does not seem poised to capitalize on the customers he still has.

"My goal is, you come to MySpace, you listen to some new bands and connect to those bands," Jones told audience members. "I don't want to be the place that replaces iTunes. I want to be the place where you learn about music and then take that to wherever your music consumption happens."

Why would MySpace want to sacrifice this potential revenue generator? Imagine if Amazon CEO Jeff Bezos said he wanted Amazon.com to be the place consumers discover products—before heading to eBay or Barnes & Noble to purchase them. Or Netflix chief Reed Hastings suggesting his service might be better used to discover new TV shows, while apathetically understanding why Hulu might be a better place to view and pay for them.

After all, why wouldn't Jones want MySpace to replace iTunes? Apple earns billions from selling music—it would seem odd that MySpace wouldn't want a cut of that pie, especially given how unsuccessful Ping (Apple's own music-based social network) has been so far.

Perhaps its this lack of vision that has caused MySpace's user base, much like its logo, to start to disappear.

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3 Comments

  • gene case

    MySpace no
    longer can be trusted at all. They don't care about you. They have let 3rd
    party come in and Del your account or when a hacker mess up your account and
    its get deleted. You are out of luck. All they can say is sorry, you can make
    another one. Your just out of luck regard less of how many $100.00 you have put
    into it. That why it’s going down. It’s just trash anymore for the hacker.

  • B

    This article is clearly taken out of Context, I think the issue is Fastcompany is failing and you want to jump on the bandwagon to feel cool about slamming myspace. Clearly the numbers are decreasing for the site but where is the rest of the article. Also, I have never heard of this lame site, clearly you have used this snippet of the article to get readers. Good thing i used a fake email go ahead and spam it.