MySpace is close to signing a deal with Sony BMG and Warner Music to offer legal music downloads, writes The New York Post. The firm is also close to coming to an agreement with Universal Music. The joint venture is expected to offer a mixture of pay-per-download and ad-supported models. The deal is thought to […]
MySpace is close to signing a deal with Sony BMG and Warner Music to offer legal music downloads, writes The New York Post. The firm is also close to coming to an agreement with Universal Music. The joint venture is expected to offer a mixture of pay-per-download and ad-supported models. The deal is thought to remain cash-free with the labels expected to trade their content rights in exchange for minority equity stakes in MySpace Music and a share of all advertising revenues generated by the service. MySpace is thought to have between $50m to $100m (£25m to £50m) earmarked for the launch of the venture. MySpace currently attracts 15m unique visitors each month to its MySpace Music website.
From The New York Post: http://www.nypost.com, 03/04/2008
MySpace: http://www.myspace.com
