Pennywise Trying Free Business Model

(antiMusic) Will MySpace replace traditional record labels? Probably not but there is an interesting experiment planned next year with the release of Pennywise's new album. Adweek has the report: MySpace is joining the search for a new business model for the music industry by enlisting the help of advertising.

Next March, fans of punk band Pennywise can go to stores to buy the group's ninth album. Or they can go to the MySpace profile of Textango, a mobile music distributor, and add it as a friend, which will allow them to download the entire album for free.

The promotion is the first test by MySpace of whether it can marry its enormous reach, fledgling record label it began two years ago and roster of advertiser relationships to create an alternative for bands to the current distribution model, which nearly all participants agree is faltering. - more on this story

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