MySpace has just announced that it will enter the digital music industry by
offering an estimated 3 million songs from various independent bands.

The popular teen Web site is the latest firm to challenge market leader
iTunes Music Store. Despite having just joined the online music business,
MySpace is expected to be a threat to the Apple unit since it already has
106 million users and has the full support of parent firm New Corp.

MySpace is bent on challenging Apple for a big share of the market. The new
player is optimistic that it will attract many users since clamors for
alternative services to iTunes are growing.

MySpace.com was the most visited Web site in America last year. Its
audiences are mostly teenagers who log on to the site to socialize and
exchange multimedia files.

Songs will be sold on the bands’ respective Web sites in MySpace. The file
can be opened in most digital players, even on the Apple iPod. The price of
each song would depend upon the rate that will be imposed by the artist.
MySpace would also be imposing a fixed distribution fee for each MP3 file.

Company officials said that copyrighted songs from big record labels would
eventually be included in the service.