noWax

We recently wrote about Reverbnation which resulted in a comment from founder Jed Carlson, obviously happy that we highlighted his company’s forward thinking approach relating to the behaviour of the big boys in the online social music space.

Something else interesting has occurred recently in the social online space. Facebook has added a series of application platforms for users to add into their profiles. Some of these are music platforms including the extremely brilliant iLike. Facebook users can add this service to their profile which then has certain fun features to enhance a users profile - a music quiz, favourite tracks etc. It’s interesting that Facebook is adopting a flexible open system compared to MySpace which has a pretty closed system. You have to wonder if it will be MySpace’s undoing…

iLike is pretty popular on Facebook. It has been available since the 24th May and currently has over 600 000 Facebook users who have added it to their profiles. Facebook only has a 10% market share (MySpace has 80%) but this is still a very large number of people. Potentially, the social network space is a very lucrative one for music services such as iLike, where through peer recommendation they could very quickly dominate the market.