COURTNEY Holt, new president of MySpace Music, publicly declared during his keynote interview on Saturday that the service needs independent labels as much as it needs the majors.
US-based MySpace Music, part of the pioneering social network owned by media powerhouse News Corp, launched last September as a joint venture with only the four major labels EMI, Universal, Warner and Sony. Holt, who joined the company this month, insisted the move was not meant to be a slight against independents.
“We need the independents,” he said. “They are an integral part of the service because so many people want to see it succeed as a business. We’re close to signing deals with a handful of independents and we’re meeting with a bunch of them at MIDEM.”
Holt also explained that MySpace Music plans to exploit MySpace’s presence in more than 20 countries. “We would like to roll out internationally in the second quarter of this year,” he said.