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MySpace Launches iTunes Rival

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[ Social Media]

MySpace announces that they will launch MySpace Music, a service to rival Apple’s popular iTunes music player and marketplace. Like iTunes, MySpace Music will feature streaming music, paid DRM-free MP3 downloads and music-related merchandise.

MySpace Music is a joint venture with Universal Music Group, Sony BMG Music Entertainment and Warner Music Group. The other major recording company, EMI, may still sign on, possibly even before MySpace Music launches. The launch dates has not been set, but MySpace CEO Chris De Wolfe says that commercial features will roll out over the coming three or four months.

MySpace Chief Operating Officer Amit Kapur told Reuters that through this venture, MySpace Music “goes from being a promotional vehicle to being a commercial vehicle.” MySpace already features 5 million artists and 30 million members who listen to music through the site.

Analysts and bloggers are applauding MySpace and music companies for working to “modernize the music industry,” as CNET put it. Reuters quoted Forrester Research analyst James McQuivey as saying that

MySpace Music was the right step for music companies, but noted, “Apple will not be affected for the first few years because Apple’s iTunes store lives on the strength of Apple’s devices.”

He added, “One implication of this is that Apple may decide to improve its store experience, but I don’t honestly see it trying to compete as a social network.”

The deal is reportedly nonexclusive for the music companies. The announcement allegedly follows a settlement between MySpace and Universal over a copyright lawsuit. MySpace Music could eventually be spun off into a stand-alone venture, but De Wolfe told paidContent that it’s unlikely that they will work with distribution partners at this point.

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MySpace Launches iTunes Rival
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About Jordan McCollum
Jordan McCollum is a staff writer for the popular marketing blog Marketing Pilgrim. She has worked in search engine optimization with clients including 3M, Little Giant Ladders and ADP. After graduating from Brigham Young University, Jordan joined the SEO copywriting team at the Internet marketing firm 10x Marketing. After 10x closed its doors in December 2006, Jordan became a freelance writer and Internet marketing consultant specializing in SEO. She also has extensive experience with web analytics, conversion rate enhancement and e-mail marketing. WebProNews Writer
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