What could Facebook possibly do next, for better or for worse? Well, at its f8 conference on September 22, they are going to announce a music platform. This comes from an anonymous source speaking to CNBC, though this source is apparently quite credible. The platform is not likely to be as much of a retail “store” such as iTunes, but more of a place that enables users to stream music like Pandora Radio.
The rumors about a Facebook music service have surfaced before. There are many companies that have tried things like this before, such as Best Buy and RIM. On the other side, there are dedicated services like Rdio, Grooveshark and Spotify that have absolutely flourished, though none have managed to surpass or come close to the sales earnings success of iTunes.
CNBC is estimating that Facebook will offer a “platform for third-party services to deliver music to their customers, rather than trying to directly compete with them.” Facebook currently has over 750 million users. That being said, with the music platform being introduced and the music being provided by third-parties, Facebook has only money to gain here. The profits will be immense, as advertising will have a promising way for services to reach new customers within Facebook.
Mark Zuckerberg has stated again and again that the “volume of content users are sharing” is definitely more important than the total number of users. As of right now, Facebook users can really only share their music interests through services like Last.fm from Microsoft. However, after September 22, we may see this type of sharing get an exponential boost of attention.
Source: Ars Technica
