In the last session of the day at Web 2.0 Summit Thursday, MySpace CEO Chris DeWolfe and Edgar Bronfman, CEO of Warner Music, sat down with John Battelle for a conversation about the future of music. At one point during their conversation, John Battelle stated some ballpark estimates about Facebook and inaccurately claimed that the site had eclipsed MySpace domestically.
It was a moment which clearly frustrated DeWolfe and he was quick to respond that according to comScore, the company is beating Facebook by over 30 million monthly unique visitors in the United States. He also was quick to underscore the company’s focus on generating a real business, which contrasts Zuckerberg’s much buzzed about statement that the company isn’t heavily focused on monetization.
According to one person I spoke with at the MySpace party last night in San Francisco, the company is now actively pursuing publishers to partner with on the MySpace ad platform. Just as I wrote this morning on AllFacebook, users will be cookied and targeted based on profile information they provided on MySpace. This emphasizes that MySpace is not sitting by and waiting for the open web to take place, they are trying to take advantage of it now.
When it comes to making money from MySpace Music, the company remains focused on an ad-supported model. DeWolfe stated, “The main difference with our model is that we have the largest music community in the world.” This emphasis on community is what DeWolfe believes will give them a leg up. As to whether or not he’s concerned about Facebook entering the music arena?
“There are significant barriers to entry,” DeWolfe told John Battelle. He proceeded to list out the four business components necessary to succeed and suggested that it would be very challenging for Facebook to enter the space. It’s clear that MySpace is focused on building a business and while Facebook may be rapidly gaining traction, the company will continue to focus on monetization and growth opportunities. For Chris DeWolfe, it’s all business.