major label acts are a small part of the MySpace experience... MySpace is the ultimate long tail site for musicians, where bar bands and small-town heroes can appear in the same context as the biggest bands in the world.
MySpace is essential for independent artists. Every band I've played with in the last five years has had a MySpace page, and it completely changed how we did things compared with the pre-Internet days. Getting gigs, maintaining mailing lists, fliering--all of those formerly labor-intensive tasks could be accomplished by sitting in front of a computer. One group I played with got 90 percent of our gigs through other bands on our friends list. Another had a couple dozen teenage fans who'd come to every all-ages show when they read about it on our MySpace page.
De Matt Rosoff en CNET's Crossfade blog,