Facebook May Follow MySpace Into Digital Music

Facebook CEO Mark Zuckerberg
Facebook CEO Mark Zuckerberg Source: Reuters

Social networking site Facebook’s founder and CEO, Mark Zuckerberg, plans to enter the digital-music business in the wake of the launch of News Corp.’s MySpace Music last month, the New York Post said.

Zuckerberg is talking to a number of song-streaming services and music community sites, including Rhapsody.com, iMeem.com, iLike.com and Lala.com about an outsourcing deal, the Post reported, citing sources familiar with the situation.

Facebook executives have been busy meeting major record companies about the strategy, the paper said on its Web site.

The Post quoted sources saying that unlike MySpace, which traded equity in its music venture in exchange for licenses to stream ad-supported songs, Facebook doesn’t want to secure licenses to distribute music, or build a proprietary service from scratch.

Sources further cautioned that nothing was imminent, and Facebook may ultimately walk away from the plan altogether, the paper reported.

Facebook did not immediately return calls seeking comment.

News Around the Web