MySpace announced yesterday (April 3) that it has deals in place with Sony BMG, Universal and Warner to create MySpace Music. The new digital music service will sell downloads, stream ad-supported music and videos and serve as a storefront to physical goods and concert tickets.
MySpace sought this deal in an effort to compete with digital services like iTunes and Amazon, as well as to fend off Facebook’s increasing popularity.
Facebook has hooked up with iTunes via the iLike feature, which allows users to purchase and stream music, post play lists and update concert information.
By striking deals with three of the four major labels (only EMI has not signed on), MySpace Music boasts “the most comprehensive catalogue of music content available online.” The service anticipates launching “in the coming months.”