Myspace (http://www.myspace.com ) has been not only a social networking tool but the first that offered new and upcoming musicians to offer their creative music to millions of visitors. That apart, like with any social networking group, Myspace allowed them to keep in touch and track artists and musicians.

In a communication early in March 2008, Myspace disclosed their intent to spin off MySpace Music as a separate joint venture enterprise. It will be co-owned with Vivendi’s Universal Music Group, Sony-BMG Music Entertainment and Warner Music Group.

According to MySpace co-founder & CEO Chris DeWolfe, the new range of services will feature free advertising-supported streams of songs and videos from Universal, Sony-BMG and Warner recording artists, as well as an online store where visitors will be able to purchase restriction-free song downloads, ringtones and other merchandise. It is not certain whether the EMI group would also be a partner in the collaboration.

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