MySpace Launches Music Service

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MySpace.com is starting a joint venture with a handful of record companies to sell music and concert tickets via the popular social networking site. Financial terms of the agreement were not disclosed.


MySpace Music will partner with Vivendi SA’s Universal Music Group, Sony BMG Music Entertainment and Warner Music Group Corp., the Beverly Hills-based Web site, which is controlled by News Corp. said in a statement Thursday.


MySpace plans to sell downloads of artists signed to the above labels increasing the reach of the artists and generating more traffic for ad revenue, MySpace said.


The service will now line up to be in direct-competition with Apple Inc.’s iTunes.

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