MySpace is launching its ambitious music initiative, betting its broad reach, social tools and brand advertisers relationships can craft nothing less than a new business model for the ailing industry.
MySpace offers its 120 million users with the opportunity to stream full songs for free, build playlists, and buy songs from amazon.com or ringtones from jamster.
MySpace Music is running campaigns from McDonald’s, Sony Pictures, State Farm and Toyota.
MySpace’s unique position as a social hub will give it a leg up on other companies like iMeem, Spiralfrog and Last.fm that are building ad-supported online music services.
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