Facebook Music: The rules are about to be re-written
Published on August 13th, 2012 | by Caesar (Kuwait Music)
Music is as much a part of our social lives as is eating, talking and doing things together. There are several music services around the world such as iTunes, Myspace, Yahoo Music and Last.fm that play an integral part of our lives, but do any of them immerse themselves so contagiously that you cant do without it? No. Well, brace yourselves because the new Facebook music is about to change the game.
Although Facebook hasn’t officially launched its music streaming service there are plenty of signs that it will officially grace the world at the upcoming F8 conference. So just how big will Facebook music become and will its music service become just as addictive as its networking service?
Cloud technology will help
Facebook’s executives have played it smart. Timing is everything in launching new services, and Facebook seems to have perfected that art of business warfare. With cloud technology coming into its own , the emergence of Spotify and other cloud based music start ups as well as major players like Apple’s iTunes moving towards a streaming model you have to think that Facebook have timed their entry to the music market to perfection. So , what’s the big deal? You’re about to find out.
Facebook will let others compete in its play field
There has been plenty of speculation as to what the music service will actually look like when launched but it looks like Facebook will act as the platform and allow 3rd parties to do all the streaming and heavy lifting. That is where Facebook’s strength is and has served them well in the games sector as well where it makes a large portion of its revenues by taking 30% of all their partner’s revenues. The rumors about one of the major partners being Spotify make sense because Spotify has already leveraged Facebook connect to great effect within it’s own app and the two companies share plenty of investors. This strategy of providing a platform for other music services to provide services will eventually be the nail in the coffin for services such as iTunes and Myspace- currently the 2 titans of streaming music.
Facebook music is set to be launched next month at the F8 conference, but until then it will be interesting to see what competitors are doing keep their existing customer base.