MySpace, Sony BMG Music Entertainment, Universal Music Group, and Warner Music Group announced the formation of MySpace Music. The product will integrate new content and music capabilities across three primary areas: the MySpace Music home page, the site’s 5 million artist profile pages, and individual user home pages, providing bands and fans multiple touch points to discover, share, and purchase music and merchandise in one place for the portable device of their choosing. It will include DRM-free digital downloads, ad-supported audio and video streaming, a mobile storefront (powered by News Corporation’s Jamba mobile company), as well as various sponsorship solutions.
For the labels’ artists, MySpace Music will offer them the opportunity to provide their fans with digital downloads as well as mobile ringtones, SMS, and artist wallpapers, all directly from their artist profiles. Additionally, artists will also be able to monetize physical goods such as t-shirts and concert tickets.
The new company will be based in LA and will have a dedicated executive management team to oversee the business.