WaTunes: MySpace Music Is Burning Money, Possible Subcription Service In The Works

July 8, 2010 at 8:22 pm Leave a comment

Source: Hypebot

<img class="asset asset-image at-xid-6a0111683c7a25970c0133f225e9b5970b " title="image from www.wired.com” src=”http://a5.typepad.com/6a0111683c7a25970c0133f225e9b5970b-250wi&#8221; height=”101″ alt=”image from www.wired.com” width=”176″ style=”border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-color: initial; margin-top: 0pt; margin-right: 5px; margin-bottom: 5px; margin-left: 0pt;” />Before the end of the year, MySpace Music, having "underachieved" with regard to revenue goals, is considering launching paid subscription service.  Sources say they are in need of moving to a paid model because the venture is burning through piles of money each month.  Courtney Holt, President of MySpace Music, went on record saying that they have no plans to change their current service which includes streaming free music, but conceded that they are "always exploring new monetization opportunities."

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