The Wall Street Journal is reporting that social networking giant MySpace is in the process of partnering with the Big Four music groups to become an online music destination.
It's reportedly part of a larger effort to position MySpace more of a media company, and further distinguish itself from Facebook.
Tentatively dubbed MySpace Music, the music service would let users listen to free, streaming music, and purchase DRM-free MP3 downloads, which can be played on virtually any portable device, including the iPod.
The streaming service would be advertising supported and revenue would be split with the labels.
[Wall Street Journal]
Photo courtesy of Robert Scoble.
I like the idea of free online streaming. But you know the bit rate will probably be 46Kbps or lower. So you will want to buy the song. But I think MySpace should do what they do best; be a online social networking site.
Wow, did you shoot that photo yourself, Ryan? :-D