Independent record labels sign MySpace deal

By Kate Holton
Jan 21, 2007 — CANNES, France (Reuters) - Merlin, the new agency representing the world's independent music sector, has agreed a deal with digital music company Snocap which will allow its labels' music to be sold from Web sites such as MySpace.The group announced the deal at the annual MidemNet music conference in France, saying it would allow thousands of independent labels across the world to sell digital downloads of their music from their MySpace pages and other sites.
Snocap, founded by Napster creator Sean Fanning, will use its retail initiative called Mystore which enables music to be downloaded from Web sites. The Mystore and MySpace tie up will launch in the "near future."

I thought this article is an interesting article about myspace because these days everyone young and old has caught onto the Myspace craze. This licensing merge shows how large the website is getting and how Myspace is here to stay for awhile. I believe Snocap was really smart for picking up on this business merge. Myspace one of the most popular websites and this will allow Snocap a chance to really get their name in the marketplace plus a big boost in profits. The music will be sold and Myspace, I also thought it was interesting the downloads will be sold in the MP3 format, meaning they can be played on any portable music player including the iPod which itunes doesn’t offer. I think this will be really profitable for the company and will add to the Myspace phenomenon. Plus who doesn't like music!

Jazmine Hasty

http://abcnews.go.com/Business/wireStory?id=2811316