Myspace+Records+Cuts+Back




 * by Ian Donnelly**

//Myspace Records is a record company supported by Interscope Records that helps new emerging artists get exposure.//

[|Myspace Records], an indie record label fusing [|the social network] and major record label [|Interscope Records], has [|recently cut] a major portion of its staff. The label's GM [|Jay Scavo]also left the team and returned to Hollywood records. According to [|Digital Music News] the company is still standing but is currently restructuring the troubled label.

Myspace Records started in 2005 as a joint venture scouting service for Interscope. The label searched for emerging artists becoming popular through Myspace, resulting in success stories such as [|Kate Voegele]and [|Mickey Avalon]. [|Compilation albums] highlighting new musicians were released, with longtime Interscope bands such as [|AFI], [|Dashboard Confessional] and [|Weezer] blending into Myspace Records. In 2008 the label released [|Pennywise's] ninth album, [|Reason To Believe], allowing fans to download songs free for a two week period on Myspace. While this is not [|the first case] of artists presenting free online music, Myspace Records became the first label to embrace social networking as a powerful tool.

It is nothing short of ironic that Myspace Records is now loosing listeners due to free online music. The label has tried to branch out and grow over the last two years into a more traditional label but is now forced to downsize. The [|traditional public relations and promotions], which sent the label under, are being shifted back to Interscope. Myspace Records plans to revert back to its old model as an [|A&R company].

The fact that Myspace Records cannot support itself with the classic record label model makes obvious the ongoing trend: [|the music industry is declining]. Gen Y embraced Myspace for its easy access to music, but is not willing to make the jump to supporting it financially as a contender in the music industry. Myspace Records will only survive as a scouting service as long as Interscope has use for it. Considering the [|rise of piracy], [|Interscope and the rest of the music industry] need to assess their own business model.