Today, MySpace announced that it has created a platform that will allow the social network to offer musical performances in the tradition of iTunes exclusives. With Transmissions, the site extends an invitation to various musicians to choose both the songs and the studio they’d like to perform in. The site then will show and sell the videos of the performances.
An article in The New York Times likens the concept to “MTV Unplugged,” with the difference of having the material available to the user immediately. After years of providing a promotional service for artists, the site has finally come up with an opportunity for a sales element that may prove successful. The main difference between what MySpace will be doing and what iTunes does in this respect is that MySpace will allow the distributors to set their own prices according to the report.
The first artist that will have material released on Transmissions is James Blunt who told The Times “Sometimes we can be so dependent on radio, and yet radio is all about a three-minute, 30-second song that is beat-driven and loud. Through MySpace, I can get songs heard that are any length I choose, that are any format I choose.”
Not only does this create a new opportunity for the artists, but MySpace is finding new ways to keep users interested without just copying rival Facebook and creating open applications. The ability to eventually monetize on video performances (the site will not receive a cut of revenue produced by sales from Blunt’s videos), opens the door for the site to revitalize their current slow growth.