MySpace Opening Digital Music Store, Will Enable Users To Sell Songs

MySpace Will Open Digital Music Store
By REUTERS, Sept 2, 2006
MySpace, the popular online community site, said yesterday that it would make its first move into the digital music business by selling songs from nearly three million unsigned bands.
MySpace is the latest company to try to challenge Apple Computer’s iTunes Music Store, but unlike many fledgling rivals, it already has 106 million users, as well as the backing of its parent company, the News Corporation.

“The goal is to be one of the biggest digital music stores out there,” the co-founder of MySpace, Chris DeWolfe, said. “Everyone we’ve spoken to definitely wants an alternative to iTunes and the iPod. MySpace could be that alternative.” In the last year, MySpace.com has become the most-visited Internet address among Web users in the United States, according to Hitwise, which monitors Web traffic, with mainly teenagers and young adults using the site to socialize and to share music and photographs. By the end of the year, Mr. DeWolfe said, MySpace will offer independent bands that have not signed with a record label a chance to sell their music on the site. MySpace says it has nearly three million bands showcasing their music....Read more: HERE

9/02/2006 01:33:00 PM

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