Remember MySpace Music? It was supposed to put online music streaming on the the right track. But with all the layoffs, shrinking audience and turmoil at parent MySpace, MySpace Music is singing the blues. According to comScore, only 17 million people in the U.S. visited MySpace Music in January, 2011, which is down 46 percent from the previous year. Pandora is now bigger on the Web, with an estimated 20.3 million monthly U.S. visitors.
Today, MySpace Music president Courtney Holt is stepping down. He joined two years ago from MTV. But with MySpace itself on the wane and Rupert Murdoch looking to unload it, MySpace Music can no longer hold its own.
Below is the internal MySpace email Mike Jones sent to employees announcing Holt’s departure. No replacement was named, instead Jones will be adding MySpace Music to his responsibilities.
From: Mike Jones
Sent: Thursday, February 24, 2011 10:44 AM
To: Myspace All
Subject: Organizational Update
I wanted to let everyone know that Courtney Holt’s role in the company will soon be changing. Over the next several weeks, he will be moving from being the President of Myspace Music to becoming a key advisor to both Myspace and Newscorp. Courtney will provide guidance on the strategic direction of Myspace Music and lend his incredible depth of experience, industry expertise and creativity to Myspace and Myspace Music. Additionally, Courtney will continue to serve on the board of Myspace Music.
Sam Wick will now oversee all of marketing for Myspace and operationally I will be taking over as the interim president of Myspace Music.
Please let me know if you have any questions about these changes.
Courtney Holt served as President of MySpace Music a joint venture between MySpace, The EMI Group, SONY BMG MUSIC ENTERTAINMENT, Universal Music Group, Warner Music Group, and Sony ATV. In this role, Courtney oversaw the growth and development of the MySpace Music brand. Courtney brought extensive music industry depth and relationships to MySpace Music, as well as experience and focus on product, promotion, and marketing that will serve to solidify the companyâ€™s position as a global leader in the digital...
MySpace Music is a joint music venture, with equity stakes from major labels, that allows users to stream music on demand, create playlists, and add widget music players to their profiles. The streaming will be advertising supported - at first via display ads (like Imeem), and later via in-stream audio ads. DRM-free downloads will also be available, either advertising supported or on a pay basis like Amazon’s Music Store. The new company will own the MySpace music property, get a...