Major labels to offer free music streaming

“Just a few years ago, a Web site giving away virtually every notable song ever recorded would have had music business executives speed-dialing their lawyers. But in the next two weeks, a battered music industry, facing slumping CD sales and a bleak future, will help to introduce just such a service. The new site, MySpace Music, is the product of a joint venture of MySpace and the three biggest music companies: Warner Music Group, Sony BMG and Universal Music Group. The venture plans to make money from selling advertising on the site and from selling digital downloads of music through a partnership with Amazon.com.”

International Herald Tribune, 9/17/2008