MySpace Music Coming Soon
3rd April 2008
In a CNNMoney.com article, MySpace has just formed a joint venture with three of the largest record labels–Universal, Warner, and Sony. Under the agreement, the companies will split revenue from sales of music downloaded, advertising, concert tickets, merchandise sales, and other activities.
This latest development will no doubt be a formidable competitor to Apple and its dominant position in digital music. However, it also appears to be an attempt to further bolster its position as a leading social networking destination compared to Facebook and other fast-growing social networking start ups.
MySpace Music will be launched in the coming months; it will be available first in the United States and then other countries later. Interestingly, the service will also offer music without digital rights management (DRM).
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