Website MySpace is to allow unsigned bands featured on the social networking site to sell their music as downloads.The site - which has 106 million users - is currently testing the idea, and hopes to rival market leader iTunes. Nearly three million bands feature on the site, with individual bands set to decide on the price of their tracks.
"The goal is to be one of the biggest digital music stores out there," MySpace co-founder Chris DeWolfe told news agency Reuters.
"Everyone we've spoken to definitely wants an alternative to iTunes and the iPod. MySpace could be that alternative."
And
Music downloads have soared in popularity in recent years, with Europeans alone expected to spend 280m euros (£189m) buying music online this year.The announcement from MySpace is the latest development in the fast-changing area of music and social networking sites.
In July, Sony BMG struck a partnership with British site Faceparty to have its artists promoted exclusively to the site's six million members. Last week Vivendi Universal, the world's biggest music group, signed a deal to make its music catalogue available on a free legal downloads service through entertainment site Spiralfrog.
Under the agreement, Spiralfrog will offer Universal's songs online in the US and Canada. Meanwhile, YouTube has declared its ambition to place every pop video ever made on its site.
As we say Its a new socio-economic model. Even Duran Duran are getting in on the act :-)
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