Facebook Music Rumors
AllFacebook is running a rumor that Facebook is prepping an online music store that will see it compete with Apple’s dominant iTunes. A competing story by PaidContent says the new product is to be a music platform for artists and will compete directly with MySpace, not iTunes.
According to the posts, Facebook has been searching for a CEO to head up a new MP3 sales subdivision and has been pursuing agreements with a number of record labels.
If true, it would be an interesting move by Facebook, particularly into a market space where many have tried to take on Apple in the past, and have all miserably failed. Apple itself sees value in social networking as a platform for music sales, having integrated iTunes into Bebo UK and Ireland in June.
This is bad news for the the new iLike artist platform on Facebook, which launched today. But as we’ve said before, if you play in Facebook’s sandbox, be prepared for a little competition.
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