MySpace launches music service

LOS ANGELES A new player has emerged on the digital music scene in the form of MySpace Music, a new company formed by a joint venture between MySpace, Sony BMG Music Entertainment, Universal Music Group and Warner Music Group. According to a company press release, MySpace Music will allow users to discover, share, and socialize by adding commerce and music management tools.

The service will feature 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. MySpace users will also be able to control their entire MySpace Music experience directly from their user page by creating playlists and having access to enhanced purchase opportunities and search functionality.

The new company will be based in Los Angeles and will have a dedicated executive management team to oversee the business. In the coming months, MySpace Music will begin to roll new content and product functionality within the existing music channel. The process will be iterative to take full advantage of the popularity and existing traffic to the Music channel already booming within MySpace.