MySpace has been brewing this comprehensive music store for some time, as we know. The delay for MySpace's 'missing link' project is down to the site wanting to nail all four major labels before it rolls the service out, but the New York Post reports that the digital music store could finally roll out next week following advanced talks with Sony BMG and Warner.
Photo by Lawrie Cate on Flickr. Some rights reserved.
EMI and Universal are further behind in negotiations, but the basic deal will see the labels take a joint share of under 50% in the venture, and so share revenues from advertising and from download sales of audio, video and ringtones - instead of making money through a licensing agreement with MySpace.
Universal is suing MySpace over copyright infringement on its video service, and that needs to be sorted out before Universal will sign up. Other factors are that Jamba, News Corp's ringtone specialist, is expected to have a role in the project.
I've said before that I think music is the goldmine for MySpace, but they do need to step on it. If the New York Post is right, this could go public next week.
Source: Mashable
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