While MySpace was once poised to lead the streaming revolution, it missed its chance to shape the future of the music business
.that once lived on MySpace. The news brings back bittersweet memories of the creative output that the social network nurtured, but was unable to preserve for future generations.
When MySpace was revolutionizing social media in the 2000s, the music business was struggling through an existential crisis. Total revenue from U.S. music sales and licensing wasby the end of the decade, as sales of CD’s plummeted and illegal free downloads became ubiquitous on the internet.
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