Facebook Should Acquire iLike Instead Of Launching A Music Service On Their Own
Facebook’s on and off rumors about a Music feature is getting pretty repetitive and stale. If they want to launch it, JUST DO IT ALREADY! The media (specifically the New York Post) has been lead on to believe Facebook is still contemplating the launch of a music service, especially given the success of MySpace Music. Facebook is reportedly in talks with Rhapsody, iLike, Lala, and iMeem.
All of the aforementioned services already have Facebook Applications launched. What possible further discussions can be taking place? All of them have their own music purchase affiliation system running. And it’s not like Facebook’s demographic is based on bands and music like MySpace is. Facebook’s demographic is primarily still high school and university students not looking to start their own bands. The MySpace demographic is the type of people that think they can make a comment on one of the A-list music artist’s profile and think they’ll instantly get a record deal. I’ve seen this happen way too many times on MySpace.
If Facebook wants to get into the music foray, they should acquire iLike outright. Facebook already has millions in funding and an inflated valuation. iLike has a massive music user-base (over 25 million) and advertises at major sporting events. And iLike already has a major relationship established with all of the big music record companies.
iLike is Facebook’s most popular music application with over 5 million monthly active users. If Facebook bought them out, then the possibilites between the two companies would be endless.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry