MySpace is launching its label. The first release is not a real album, but a compilation of mostly already signed acts lent by other labels. One of the bands on it, Hollywood Undead, is MySpace Records’ first signed act and will have an album out next year.
News Corp. wholly owns the new label, but Vivendi’s Interscope Records is a partner, and will step in as an investor when an act merits wider publicity and promotional efforts.
It further proves the beauty of MySpace does not lie in connecting young people to each another, but in basing those connections on music. Through the simple act of hosting an MP3, bands are finding each other and building distant audiences. Indie labels are finding artists to sign. And big record labels are finding audiences they can promote new releases to. An increasing number of songs are premiering on the site. And TV’s getting involved: Look at the deal MySpace did with Fuse.
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