Technology News: Social Networking: Music Scene May Be Unchanged by MySpace Move

Link: Technology News: Social Networking: Music Scene May Be Unchanged by MySpace Move.

Gerd Leonhard, CEO of Sonific in Basel, Switzerland, explained that MySpace's embedded player was unlikely to compete with his company's application.

"What we are doing has nothing to do with selling music," he told TechNewsWorld, "it's more about setting up a promotional network."

He predicted that it would take some time for MySpace's grand plan for music to reach a boil.

"The gigantic traffic that MySpace has really isn't based on people buying music," he opined. "This whole assumption of people buying music there will take a long time to monetize.