Sony BMG, MySpace in duet
EmptyDENVER -- Sony BMG has formed a new music licensing deal with News Corp.'s MySpace allowing members of the popular social networking site to stream music videos and certain songs and other content in full from the service in return for a share of advertising and sponsorship revenues.
As part of the deal, MySpace will promote Sony BMG artists through banner ads and other avenues. Financial details of the deal were not disclosed.
The move marks yet another experiment with ad-supported revenue models for the music industry. MySpace is by far the largest and most influential outlet to date, with 70 million members streaming millions of songs a day from artists' profiles.
Antony Bruno is a contributor to Billboard.