Facebook in Talks with Major Record Companies

Facebook, a social networking mega-player, is reportedly in negotiations
with major record labels to launch a music service.

The Financial Times reported that this Facebook service would focus on premium, device-agnostic MP3 downloads and advertiser-supported streaming content.

Facebook Pages, launched in November 07, lets artists create their own home pages. They also offer applications from digital music firms including Pandora, iLike and Last.FM.

So what spurred Facebook to contact the major content providers last week? A little heat from reported talks speared by rival MySpace.
It is reported that they are in
negotiations with Universal Music, Sony BMG, Warner Music and EMI.
This service could be called MySpace Music-but its not confirmed to my knowledge!

Checkout my post today covering Record companies reinventing themselves! This is exactly the way they can reduce the revenue attrition they are experiencing due to online digital downloads and the defection of their artists going-it-alone on the net!