Music + Social Networks = Apple’s new “PING”

Word on the street is that our man Steve Jobs proposes a whole new way of listening to music...again. The new iTunes 10 has been re-vamped with new features, logo and it's very own social network called Ping- described by Jobs as "Facebook meets Twitter for music."

This new button on the sidebar of iTunes will enable people to follow their friends and favorite artists- by viewing their photos, status updates, as well as knowing what they're listening to or creating- and may be able to interact with them.  An awesome opportunity to purchase on the spot what people's favorite artists have just recorded and what they love... Soo great, that they will be consumer motivators and prescribers without even knowing it. Combining social networking and the purchase of a song will be as a easy as the click of a mouse, amazing for music labels.

Ping also features a news feed, more than 17,000 concert listings custom and album charts, and will be available to 160 million iTunes users, in desktops, iPhones and iPod touch. This represents even more potential sources of revenue as Apple expands their product and services portfolio- something that sounds like music to my ears...

"Ping is a social music discovery", said Jobs. "It's a social network all about music- it's that simple."

Will this new feature prove itself successful and boost music and video sales? Will folks learn to associate Apple with social media? Only time will tell.

But for now, crack open a bottle of champagne... they've done it again.

 

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