TagWorld is targeting the MySpace crowd – generally people under 25, who all want a blogging/home page presence on the web. Sites like MySpace, FaceBook and Xanga are generating a truly massive number of page views – MySpace and FaceBook each rival Google in page views (although they don’t approach the reach). The reason? These users spend most of their day on these sites, updating their sites and clicking on friends.
TagWorld already had an impressive feature set that includes a GB of storage and great ajax tools for creating a site. And, as the name implies, tagging of everything.
The new music functionality is a full generation ahead of MySpace and others. Bands can upload a GB of music and have a number of DRM options to control distrubution. Users can mix this music into their own media player and can upload their own music (and other files, like photos and movies) as well. They can create customized music playlists, store the music on TagWorld and have access to it anywhere they can get online. Users can also set up playlists that others can listen to when they visit the user’s website. All of this requires nothing but the ability to click on the music and drag the music player modue onto their site. No HTML or other technical skills are needed.
Can TagWorld take on MySpace and become the King of Social Networks 3.0?
Yeah, I think they will. For a number of reasons.
First, the founders, Fred Krueger and Evan Rifkin, have done a great job getting top bands to start using the platform. Check out the TagWorld pages for Death Cab For Cutie, The Shins and The Postal Service.
Second, TagWorld has 160,000+ users after just a month of being live. The “in” crowd is starting to notice.
Third, I think the teenager/student social network doesn’t have the same lock-in that, say, ebay has. TagWorld’s target users are fickle and don’t want to be considered mainstream. They’ll try new things and if the functionality is there, they’ll stay. And this target market is constantly renewing itself as children become teenagers (new customers) and young adults move on to more professional tools (customers leave).
So, in a nutshell, I’m bullish on TagWorld. And some of these features quite frankly appeal to a much larger audience than teenagers and young adults. The market for an online music locker with a portable player is wide open. TagWorld can take this market.