Turntable.fm, the upstart online music sharing service, received good press in June following its launch. Turntable.fm turns music into a social game by letting members set up or join rooms where they can play music for each other.

Fast Company reported this week that labels, promoters and bands such as Passion Pit are turning to Turntable.fm rather than Facebook or Twitter or even radio to announce concerts. Lady Gaga and Kanye West are listed among the company’s latest investors.

Will Turntable.fm turn into the best promotional tool for artists to interact with fans? We used Social Radar to analyze conversations online.

Turntable.fm buzz

Turntable.fm buzz spiked in June following its launch and has since subsided considerably.

Online music sharing comparison

We compared Turntable.fm to other popular music sharing and discovery services such as Blip.fm, Pandora, Rdio and Spotify. Blip.fm consistently generated the most conversations online among the five services, followed by Pandora, Spotify, Turntable.fm, and Rdio.

Has the initial excitement around Turntable.fm already worn off? Or will we see more artists use the platform to launch music, make announcements and interact with fans?

With Spotify reaching 10 million users on the heels of iTunes introducing Ping a few weeks ago, we decided to run some analysis on the social music sharing market. While widespread adoption is still limited, the results are interesting.

We analyzed chatter around Spotify, iTunes Ping, Rdio, Pandora and Blip.fm services.

Blip.fm clearly generated the highest amount of overall chatter throughout the last month.

With the exception of a huge spike on the day of its release, Ping chatter has been surprisingly low. Spotify chater has been steadily below Pandora and Blip.fm this month, though Spotify’s availability is limited to seven counties across Europe: UK, Finland, Norway, Sweden, the Netherlands, France and Spain. Spotify has faced negotiation delays but is still aiming for a 2011 launch in the United States.

Including iTunes and Facebook into the trend comparison shows that the overall amount of chatter around all of the music sharing sites is rather minuscule to date.

Which service do users like the most? Adding sentiment analysis around Spotify, iTunes Ping, Rdio, Pandora and Blip.fm into the chart below for the same time period reveals that Rdio generated the most positive chatter, while iTunes Ping was clearly the most negatively talked about service.

Have you started using social music sharing services? Which do you think is best positioned to win market share?

2009 is quickly becoming the year of the short attention span. Thanks in part to Twitter’s recent skyrocketing popularity, Blip.fm has been steadily increasing in buzz since its launch in July 2008. The site offers users the ability to build playlists on the fly by playing songs and attaching short accompanying messages (150 characters or less, of course).

Last.fm offers vastly more functionality than Blip.fm, including music recommendations based on songs you like. But who has time for anything more than a blip these days?

Do you think Blip.fm buzz will surpass Last.fm?