On Friday, April 4, 2008 Myspace announced a new project called Myspace Music, a possible competition to Apple’s iTunes.   The project is in collaboration with three of the top four music firms, including Universal Music, Sony BMG

Music and Warner Music Group. The music label EMI did not take part in the partnership.   With Myspace Music, users will be able to get a “360 music experience.” The joint venture includes ad-supported audio and video streaming, enabling users to listen and watch music videos for free.   The money-making for the website and the music companies comes via e-commerce and downloads.   Users will pay a fee to download DRM-free (Digital Rights Management) music. It is seen as a possible competitor to the iTunes Music Store, which dominates the online music market.   "This gives a great new lease of life for the download market," said Thomas Hesse, Sony BMG president of global digital business.   Myspace Music will sell an array of merchandise, including artist merchandise, ring tones, and concert tickets. Users will also be able to get access to this platform through a mobile storefront backed by News Corporation’s Jamba mobile company (Myspace is owned by News Corps.).   The project will be integrated across the three primary Myspace platforms for music—the Myspace Music homepage, artist homepages, and user homepages. With 30 million unique visitors every month and over 5 million artists on the site, Myspace Music is combining the most popular music community with a vast catalogue of music.   With the introduction of e-commerce and ad-supported music streaming, combined with competition with iTunes, Myspace Music is finally letting music companies take advantage of the millions of people exposed to their artists on the internet.   By Danny Scuderi   FEEDBACK For comments on this article, email us at editorial@atelier-us.com