MySpace/KnitMedia
Written by Alyx on October 27th, 2005 in culture.
Rupert Murdoch needs to take a walk over to Knitting Factory. OK, maybe a cab.
We did a case study of KF/KnitMedia in one of my classes this summer. They are an example of vertical integration in the music business — numerous club venues to showcase artists, their own production studios, and as far as I could tell, either their own record label or plans to start one.
Since Murdoch just bought MySpace, the most valuable thing he probably got along with it is not the numerous pictures of slutty high-school and college kids (though, at $0.10/dz, these would be worth, like, $100MM? Hah) but the huge pool of unsigned artists, of which site traffic can easily tell you which has potential. I doubt he has much infrastructure for artist marketing though — he could learn a lot from KnitMedia. Start himself a little MySpace talent farm there or somethin’.
Or he could just buy KnitMedia. Maybe that would be easier. He has no shame in describing himself as “late to the game” on most things.
~Alyx
