Face it–putting all your eggs in one basket is a horrible business strategy. The more pieces of the business operations that a company controls, the better off they are. Are bands promoting themselves on myspace making the mistake of putting all their eggs in one basket? Teresa’s “The Death of Myspace” post at Blog Business Summit got me thinking: what happens when myspace loses its appeal and its 100 million users flock to the next “hip” social networking platform? Afterall, there is already a study stating that “myspace is so last year” in the minds of today’s teens. Additionally, over at Puddlegum, there is an interesting article that goes into some of the reasons that myspace is dying.

There are over 3 million bands using myspace to promote their music, many of whom use myspace to connect with ALL their fans. When myspace falls out of favor, many bands will have no way to connect with their fans anymore and, therefore, have to start over with marketing. If a band spends the majority of its time promoting an online presence that they do not fully control (their band’s myspace page), I fully believe that is a bad business strategy in the long term. If you are a band, use myspace for what it is–an supplemental means to market your music; use it to drive visitors to your real web site and engage them.

I believe myspace WILL die–hence, the reason that bands should NOT put all their eggs in one basket by connecting with their fans strictly in myspace. Utilize your own web presence in ADDITION to promoting on myspace.

  • If a band spends the majority of its time promoting an online presence that they do not fully control (their band’s myspace page), I fully believe that is a bad business strategy in the long term.

    In the hopes of reaching out and expanding fan base fully relying on MySpace alone is a foolish idea (pardon my language). Most establish bands do have promotion companies managing them. Perhaps these are start-up groups wanting to spread presence in the industry cost free [or to a minimum] and quick. Perhaps the best place to propagate their name is through social network places such as MySpace which mostly caters to the youth. It is this age group that bands need for obvious reasons – fans. Where there is a following, there’s sales.

    Or if they are establish groups with MySpace promotion, it’s perhaps a support just as you’ve mentioned.

    To use MySpace as its sole promotional machine spells disaster once it folds up.

    My thoughts.

  • Drew Meyers

    A bands fans are its most valuable asset, just as paying customers are a businesses most valuable asset. Having fans as “friends” on myspace is okay if a band is actively trying to get fans checking their real web site for updates.

    I guess the point is that bands that rely solely on myspace will not make it in the long term. It’s similar to the wordpress situation–people that try to make money off other people’s dime can’t control that environment and are at the whim of another company. For instance, my friend’s band page was deleted by myspace (without warning)…and with it went all his “fans”.

  • Oh, that’s awful. No reason? MySpace should be policing all those dirty stuff there. Not a fan-based site. I have an account there and suddenly you have these people in all degrees of nakedness popping up. I mean, who are these porns?? It scared me to be identified with that page. It’s still there, but that’s no place for me. Even my children. Friendster is better, it’s cleaner [content].

    Being a popular site for the youth, it doesn’t live up to what it should be. There have been cases of ‘online grooming’ from that site. They’re all over the news. Being famous is one thing being infamous doesn’t appeal at all.

    To each his own I know. You can continue if you’re not doing anything wrong there. That’s alright. It saddens me that the site is synonymous to ‘online grooming’ and paedophiles lurking. MySpace should clean this image that is brought upon them by those people.