MySpace makes an attempt to monetize their music via a deal with Napster phoenix SNOCAP, which allows their artists to set the terms of each transaction and sell either DRM-protected tracks or MP3s. Power popsters The Format have been doing this for some time under parent Nettwerk’s agreement inked last year.
At first glance, SNOCAP behaves like iTunes Music Store, only it’s more complicated and more diffuse. I do like their philosophy of empowering artists, though. Plus, it’s a more fully evolved marketplace than others I’ve seen (like Tamago). Given the VC velocity behind SNOCAP, that’s not surprising. What it seems to lack is any kind of central hub to spark interest in a wide variety of music. It’s a million mom-and-pop stores, not a mall or even Macy’s.
Come to think of it, that’s my basic complaint about the musical anarchy at MySpace.
Such musings lead me to link to this Cheap Trick-ish track from The Format, entitled “The Compromise.” They are an early SNOCAP adopter, and this track is a freebie on their MySpace page. Voila, synchronicity!