It looks like the new music-focused Myspace is betting on not paying artists. They’re asking for investors to get on board, with the idea that their competitive advantage is that their music library costs nothing compared to Pandora/Spotify, because most of their artists are unsigned and don’t receive royalties for streaming. Is that stupid, cynical, or really smart? I don’t know. Both Pandora and Spotify are very unprofitable, but then again, so is being an musician for the majority of musicians.
- Source Business Insider