Majors May Miss MySpace Music Payday
COMMENTARY: According to paidContent, News Corp is now reconsidering the need to bring in private equity partners and spin off the new MySpace Music. The initial success of site appears to have caused the company to question if it needs to dilute its position.
But a move towards private equity and a spin off is also a move closer to an IPO and the real payday that the major labels were hoping for when they reportedly dropped cash advance demands in exchange for an equity share. If the big pay day never arrives, it also throws into question the wisdom of Merlin led indies holdong out for an equity position of their own.
Perhaps a share ad revenue and promotional value is all that MySpace Music ever intended to offer. If so, isn’t that enough? – Bruce Houghton
A fair participation in day to day profits is enough.
I hope it taught the greedy bastards at the labels a lesson.
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