How Many Facebook Credits Is Your Song Worth?
On July 1st, Facebook is introducing its Facebook Credits virtual currency. First, the company will make it the main payment system for all apps, taking a 30 percent cut of transactions. Soon thereafter, Facebook could also use this payment system as the preferred system for buying goods, concert tickets, or songs.
At first, they intend to streamline the process of buying things within games on Facebook, but one day they could also roll Facebook Credits out to Pages too.
While there are currently applications that create virtual stores in Facebook, they require users to enter their information if they want to purchase something.
Now a fan's information will preloaded into Facebook and they'll take a cut.
It's one of those situations where if Facebook does decide to make it so users can buy digital music using Facebook Credits, artists will have to make their songs available in that fashion. This could also mean that once a song app goes viral in Facebook and everyone is playing an artist's music, each fan is now just one click away from buying the song or album if Facebook has their information.
While many of the current monetization solutions like RootMusic and MoonToast offer artists ways to sell their music on Facebook, the day could come when it's within their interest to make Fan Page transactions go through Facebook Credits.
Most of this is speculation, but let's face it, Facebook can do about whatever it wants. And if they want songs to be bought with Facebook Credits, it will happen.