Popular online community site MySpace.com has become the latest outfit to challenge Apple's market-dominating iTunes Music Store, after announcing it is to start selling the music of nearly three million unsigned bands before the end of this year.
Over the course of the past year, MySpace has become the most visited site the US, according to researchers. It boasts a whopping 106 million users, something which MySpace co-founder Chris DeWolfe is looking to capitalize on with this venture into the digital music market. "The goal is to be one of the biggest digital music stores out there," he told Reuters. "Everyone we've spoken to definitely wants an alternative to iTunes and the iPod. MySpace could be that alternative."
The new service will allow users to sell songs on their MySpace pages in DRM free mp3 digital file format accompanied by eBay Inc.'s PayPal system.
The bands will decide how much to charge per song after including MySpace's distribution fee, said Rusty Rueff, the chief exec. of Snocap, the company which will manage service.
Rueff added the "small" distribution fee is yet to be decided.
DeWolfe also said MySpace would be "enhancing and customizing" the music store in future, aiming to eventually offer copyright-protected songs from major record companies.