Expected MySpace service to compete with iTunes
Amid ongoing competitive pressure from Facebook, MySpace is taking its latest shot at entering the music business as other social networking peers, such as Last.fm and imeem, are making big audience gains with ad-supported music offerings. According to sources, MySpace is planning a service that would combine free ad-supported music listening with paid MP3 downloads and music subscriptions. MySpace parent company News Corp. has approached the major labels about forming a joint-venture music site, similar to its partnership with the major Hollywood studios for video site hulu.com. The new service would be operated by MySpace and seemingly be positioned to… Read more »