MySpace is set to launch a new music service this week, which in conjunction with the world’s major record companies will allow online users to listen to almost any song they want.
The advertising supported site MySpace Music is partially owned by Sony BMG Music Entertainment, Universal Music Group, and Warner Music, who in collaborating with the new system appear to have accepted that their old business model of selling individual CDs is now doomed.
According to the New York Times, EMI is also in advanced talks to join the venture, as is Orchard, the largest distributor of digital music from independent labels.
However, analysts said that while MySpace Music might represent the biggest threat yet to the dominance of Apple’s iTunes, its success was far from assured. The site has notable drawbacks. Users will not be able to transfer downloaded music to a mobile device or another computer. To do that they will have to purchase songs through a link with affiliated retailer Amazon.com.
Originally posted on September 15, 2008 @ 7:54 am