MySpace Music to compete against iTunes. MySpace Music will be offering streaming music, downloads of unprotected MP3s, concert tickets, ringtones, and other merchandise in partnership with three of the top four record labels namely, Universal Music Group on top of the copyright-infringement lawsuit that it filed against MySpace last year, Warner Music Group, and Sony BMG Music Entertainment while they are confident that EMI will eventually be part of the service.

Moreover, Facebook was reportedly also in talks with the major record labels but no official agreement has been sealed yet so Facebook is not considered a threat according to MySpace. With these recent initiatives Imeem and Last.fm will be out of the loop, which according to previous reports they were able to beat MySpace wherein they began providing free, streaming music to users, but this time, MySpace will be providing the new service to its 110 million worldwide monthly visitors.

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