The past decade may have been tough for the music industry, but thanks to online video, times have arguably never been better for the music video.
On YouTube, for instance, music videos represent one of the most popular content categories, and some of the most popular music videos have racked up hundreds of millions of views.
Late last year, Google finally jumped into the digital music market by launching its long-awaited Google Music service.
Despite skepticism and criticism, the search giant clearly had high hopes for its music service, which competes with Apple's iTunes and Amazon's MP3 store. Thus far, however, the skeptics and critics appear to be right.
Music is arguably one of the most popular things in the world (who doesn't listen to music), but it isn't exactly easy being a musician. That's particularly true for indie artists who don't have huge audiences and major record label backing.
The pains of the music industry, coupled with its overall sexiness as a business, have made the music space one of the most popular for startups.
As Facebook continues the charge towards its rumoured-but-practically-confirmed IPO this year, its next trick is a feature called 'Listen With'.
Announced last night, this allows groups of people to listen to the same song at the same time via the social network’s music service.
It's been more than a decade since Napster sent the music industry into a
tailspin, and record labels are still adapting to the digital reality they find themselves in.
For better or worse, the future of music is not the CD, and a huge recent milestone confirms what we have known for a long time: that it's largely digital.
iTunes is perhaps the best friend of countless music fans. It's easy to forget about the days in which you had to purchase an entire CD just to get one song, now thanks to Apple's service, millions of consumers today buy their music à la carte.
That's not to say that Apple and its record label partners don't want consumers to purchase albums.
To that end, Apple has for some time offered a 'Complete My Album' option that allows iTunes users that have purchased an individual track from an album to purchase the entirealbum at a discounted price.
One of Facebook's biggest assets is the open platform it has built which
enables developers to build apps that Facebook users can install and
use while logged in to the social network.
Today, that platform not only
helps Facebook generate billions in revenue, it has served as the
foundation for other billion-dollar businesses, like social gaming giant
So it's no surprise that another prominent consumer internet upstart,
Spotify, is looking to Facebook and launching its own platform.
After what seems like years of rumors and speculation, Google finally launched a digital music service yesterday.
Dubbed Google Music, the service can be accessed through a mobile app and the Android Market website. Through deals with EMI, Universal, Sony and a multitude of indie labels, Google says that it's today offering upwards of 8m songs, with millions more coming soon.
The internet has popularized the freemium model like no other channel,
but building a successful business on this model can be quite a
One company that has succeeded: Spotify, the Swedish company that has become Europe's most popular music streaming service.
MySpace may not have as many users as Facebook, but the company is trying to reposition itself (again) as a place where brands can find traction online.
The trouble is, brands usually follow users. Can MySpace flip that equation on its head and use great brand partnerships to attract users?
MySpace executives hope so.