Monday, September 12, 2011

My Entrepreneurial Idea

Over the past decade social networking websites such as Facebook, Linkedln and Myspace have not only changed the way that individuals communicate with one and another, but has also allowed musicians to share music and live videos with their fans.  In June 2006, the website Myspace became the most popular social networking website in the United States, but then dwindled down once Facebook became popular a couple of years later. The two websites are very similar is its fashion, but differ in the way that Myspace's main focus was on music.  As Facebook kept gaining popularity, Myspace became less user friendly.  Due to the decline of users on Myspace, musicians struggled to promote their music to potentially new fans.

My idea is to create a new social networking website that has a sole focus on music.  It will allow bands to create profiles in order to promote their music and to communicate with other bands of similar genres.  This website will make it easier for unsigned bands to promote their music and to find shows to play on.  This website will not only be available to musicians, but also to management companies and record labels.

This idea came to me in class when we were talking about how Myspace is becoming a dead website.  A couple of years ago I used Myspace for the sole purpose of finding new music.  However, once Facebook came along I noticed that less people were using Myspace.  Bands than started using their Myspace accounts less because there weren't many users.  My new social networking website will be a mix between the music section of Myspace and the business part of Linkedln. 

4 comments:

  1. I think this is a really great direction to take your project. There has been a lot of hype recently around integrating music into facebook and allowing your friends to also listen to what you are listening too. You should check out some of that work.

    ReplyDelete
  2. I think this idea has a lot of potential. How will users of Facebook find out about this website- because many music groups are already advertised through Facebook. Maybe you can connect with spotify to get the word out about up and coming bands and have links in spotify that brings the user to your website.

    ReplyDelete
  3. Would this service be free or would there be any type of fee to promote the music on the site? This way, if one artist/group pays a fee they can get a better highlight or spot on the site? Or is it all equally shown? If it it free, would you try to generate some Ad revenue?

    ReplyDelete
  4. After reading this, I have a few questions that come to mind almost immediately. First, do you see this website possibly receiving a lot of resistance from record companies? Also, what kinds are artists do you think you would be focusing on? Would you promote an artist or just give them a profile to use as their own?

    ReplyDelete