Social networking + Multimedia = Platform?

Hey guys,

I have an idea for a social networking site for local musicians. I’ve narrowed my platforms down to Buddypress and PHPfox, but I’m open to other suggestions. I want to eventually allow support for multiple times of members with different options for each, including the ability to upload and stream multimedia. This site could grow to thousands of users.

I was wondering which one of the two I’ve got narrowed down you all would suggest for this type of project? Thank you.

Personally, I’d use Drupal but you’re looking at some serious development time there.