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MySpace, labels confirm Music site [U]

updated 12:40 pm EDT, Thu April 3, 2008

MySpace Music site

MySpace and three major record labels -- Warner, Universal and Sony BMG -- have confirmed earlier reports by announcing the creation of MySpace Music, a new online store. Visitors will have at least two options in visiting: streaming music for free, with the costs covered by advertising, or paid downloads, making MySpace the latest rival to outlets such as Amazon or Apple's iTunes Store. Also possible may be some form of subscription service, but this is still under consideration. No launch date has been announced.

Under the terms of the deal, each of the record labels will have a minority stake in the site, and will be able to sell additional items like tickets, T-shirts, ringtones and other products that exploit the captive audience. Tracks will be sold DRM-free, and include all of each label's catalog; notably absent from the deal is EMI, but people involved in negotiations expect it to join the website's development shortly. [via The New York Times]




by MacNN Staff

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  1. Feathers

    Joined: Dec 1969

    0

    wtf...

    So the big labels are quite happy with the whole no DRM thing now and yet they still enforce it within their iTunes licensing contract. Also...surely all the labels coming together in this way constitutes a cartel? (Don't call me Shirley).

  1. robttwo

    Joined: Dec 1969

    0

    Hey wow!!

    So - they are going to offer streaming music for free, with ads - previously known as radio.

    And they are going to compete with iTunes!! Wowee-zowie. Of course, these geniuses pick the social networking site that is on the wane, is no longer "cool", and has an incredibly awful user interface, and is so flooded by stupid ads you can barely tell what is not anymore.

    Doofuses.

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