TBO.com - TBO is Tampa Bay Online

News Corp., Eyes Music On MySpace

ADVERTISEMENT

By ALEX VEIGA, The Associated Press

Published: February 21, 2008

Updated: 02/20/2008 08:44 pm

LOS ANGELES - News Corp. has approached the four major record labels to discuss launching an online music service through its popular MySpace social networking site, music company executives familiar with the talks said.

The media conglomerate envisions a one-stop music service that offers content in various ways, including via free digital streams, as MP3 downloads and through a subscription plan, one of the executives said.

News Corp. proposed launching the service as a joint venture with the major recording companies, which would receive an equity stake in the new company, the executive said.

The music company executives spoke on condition of anonymity, saying they were not authorized to discuss the matter publicly.

News Corp. and MySpace declined to comment Wednesday.

Representatives for the recording companies - Vivendi SA's Universal Music Group, Sony BMG Music Entertainment, Warner Music Group Corp. and EMI Group PLC - also declined to comment.

MySpace has been a popular music hub for years, prompting established acts and unknown bands alike to create profile pages that often let visitors stream a few songs.

Bands on MySpace also can sell downloads of original music directly through their profile pages.

The company may be looking for ways to keep its lead on rival social network Facebook, which has been gaining in popularity.

With sales of CDs in a protracted decline, recording companies have licensed their content for sale as unprotected MP3s and for free streaming on ad-supported sites such as imeem.com and Last.fm.

Share this:

Loading Comments...

Email Print

ADVERTISEMENT