Facebook Now Targets the Digital Music Business
Facebook is a social networking site that is gaining new grounds in terms of members. So, it comes as no surprise when it seeks to enter newer businesses through the sites. It is now entering the digital music business, taking cue from the launching of MySpace music.
Talks are on with numerous strong streaming services and also a number of music community sites, which include the likes of Lala.com, Rhapsody.com, and iLike.com, regarding an outsourcing deal. Major record companies are also being approached by Facebook executives to chart out a definitive strategy in this regard. Facebook plans to differentiate itself from MySpace with respect to the licenses. Facebook has no plans to secure music distribution licenses or the building of proprietary services from scratch, unlike MySpace which traded its music venture equity for licenses.
However, Facebook sources claim that the entry into the digital music business is not imminent and there is a chance that Facebook might just walk away from the plan altogether.
Source: http://www.bessnet.com
|
