MySpace And Sony BMG Agree On Music Streaming
Sony's video and audio content will be legally arriving on MySpace pages, following an agreement between the two companies. The social networking giant will promote the label's artists and will share sponsorship and advertising revenues with Sony.
October 17, 2007
Aside from allowing users to post Sony BMG music videos and music on their profile pages, MySpace also promises to further promote Sony artists on the site, via various means. The actual terms regarding artist promotion were not made public, but we're willing to bet that MySpace will be pretty busy; after all, Sony BMG is one of the major five record labels and reigns over 60 labels, including RCA, Arista, Columbia, Epic and Jive.
Sony's music division is currently developing a new strategy, and seems willing to bet a lot more on the Internet and the new technologies. Back in August, the company announced it was giving up on its ATRAC music format and its Connect music store.
With MySpace featuring over 110 million users, Sony certainly hopes for a boost in the long term.