Myspace is set to explore a new business paradigm as it starts to use its huge following to promote little known bands like Pennywise
Myspace has partnered with a company called Textango, a mobile billing company, to launch what looks to be a repackaged viral marketing scheme.
Basically, if you want to get a free digital copy of Pennywise's new album, you just have to add Textango as a friend et voila.
Sales of the band previous eight albums have ranged from 60,000 to 100,000, although Pennywise will probably also cash in on the fact that Myspace could be a great marketing tool for lucrative concerts contracts (ask Madonna...)
Artists like Prince and Radiohead have tried recently to break away from the traditional model by bypassing studios and interfacing directly with the fans.
Myspace is a favourite place for budding artists to expose their talents and there are literally tens of thousands of bands and artists page on Myspace, getting promoted for free.