MySpace, Record Labels Team Up For MySpace Music

The much rumoured and often spoken about ‘MySpace Music’ service has come to light, as I read this morning that MySpace have officially announced their new ‘MySpace Music’ service, a partnership between News Corporation and “three out of the four top record labels”.

The service is looking to become a one-stop shop for everything music; DRM free downloads and music sales, ticket sales for gigs and tours, band merchandise, ringtones – everything and anything goes.

It is a good move for the record industry and a great play for MySpace whose existing music service is used by millions of bands worldwide (I’m even in there) as a platform for showcasing music, listing gigs and connecting with fans.

Couple with that the ability to sell your tracks, merchandise and tickets directly through MySpace and you really have a powerful promotional tool for aspiring and established artists.

That said, with the deal seemingly focusing around the participation of three major record labels (EMI were holding out as of Friday), I would hope the the tools established by the service would be available to the smaller bands and those unaffiliated with record labels.

While the record labels look for ways to dig into online sales and catch up with the rest of the world, independent artists have been steaming ahead, safe in the knowledge that you don’t need a record label in order to release music. I’ve worked with enough bands over the last few years to see first hand you don’t need a record label to succeed and gone are the days of needing millions of dollars, pounds or Euro in order to record, launch and promote a single, EP or album.

Thomas Hesse, the President of Global Digital Business at Sony BMG Music Entertainment said in Thursday’s article on CNET that they are simply “aligning our efforts to reach fans through every conceivable platform”.

I haven’t seen any indication of what percentage of the market they’re trying to grab, likely away from Apple’s iTunes service, but here’s to hoping they don’t forget about the independent artists and make their new resources available for everyone.