Radiocity Launches Social Network For Musicians
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Radio City, the FM radio channel has forayed into the Internet business with the launch of Planetradiocity.com, a social network for the musicians, reports Afaqs. Radio will still be the core business of the company, but the Internet division will be a separate division in itself, having a different revenue stream. A 20% budget has been allocated for the portal.
Apurva Purohit, Chief Executive Officer, Radio City, says
“The next phase of social networking will involve people with a purpose through focus based networking. There was no focused online social network on music. Planetradiocity is trying to fill that gap and gather like-minded people.”
Planetradiocity will have its distinct identity. Even the logo of the portal will be different from that of Radiocity.
Musicians, music producers, artistes can create profiles on the website and upload their music here. It thus attempts to give a chance to the budding artists to show their talents. The revenues will be generated through ads and other channels.
The site has plans to go international. Already 40% of the music available on the site is international.
Our Take
Online consumer is loaded with a plethora of social networks, already. Almost every two weeks we see a new social network focusing on a niche target audience. The thing is. Most of the niche may be served by applications in the popular social networks itself. After the initial curiosity dies down, these social networks face the problem of retention. Registration is not an issue, you advertise some, and you get the users, the problem is retention. Radio City, as a premium FM brand can leverage its brand to spread the word about Planetreadiocity.com, and will get users. But, what remains to be seen is how many of them will stay behind. Uploading of music is fine, but does Radio City, using its radio channel, gives some real benefit to a user who uploads his/her music online on Planetradiocity.com ? Does Radio City offers a chance to get aired through its FM channel. If yes, then this thing can work wonderfully. Online+offline is a wonderful strategy and works marvelously If not, Planetradiocity.com might die a slow death. Similar to many others like this.
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