MySpace CEO and co-founder Chris DeWolfe recently dropped hints that the popular social networking web site may be interested in developing an Apple iPod competitor in the future.
Even though the company is focused on its recently launched MySpace Music service, "it's possible" MySpace could create a music player, DeWolve said during the Web 2.0 conference in San Francisco last week.
"Right now, we're just focusing on the service," DeWolfe was quoted as saying during the event. The new music service launched two months ago and has quickly gainined new users, and launching a new MP3 player to compete against more established competitors may not be the best move.
MySpace, which trails Facebook as the most popular social networking web site has been forced to branch out and look into alternative methods to generate revenue. The new music service seems to have been a good idea, as MySpace users streamed more than 1 billion songs a few days after MySpace Music first launched.
Each time a MySpace user uploads a new music track, all of that person's friends receive a message to let them know there is a new song they could be interested in.
The iPod continues to dominate the MP3 player market, with around 70 percent of the current MP3 player market. SanDisk, Microsoft and other companies continue to try and catch up with Apple.
MySpace Music has partnerships with Sony BMG Music, Warner Music Group and Universal Music Group, which could be utilized by a MySpace MP3 player, but analysts think MySpace should continue building an audience with its music service first.
