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Facebook plots move into online music business

Facebook plots move into online music business

Facebook's founder and chief executive Mark Zuckerberg is planning a possible move into the digital music business following the launch of News Corp's MySpace Music last month, according to reports.

Zuckerberg is talking to a number of song-streaming services and music community sites, including Rhapsody.com, iMeem.com and Lala.com, about an outsourcing deal, according to the New York Post which is owned by News Corp.

Facebook already permits some of these digital music services to have a presence on its site but the outsourcing deal would more deeply integrate their music experience into Facebook.

Zuckerberg and other Facebook executives have also been busy meeting with the major record companies about the strategy.

The Post said that unlike MySpace, which traded equity in its music venture in exchange for licenses to stream ad-supported songs, Facebook doesn't want to secure licences to distribute music or build a proprietary system from scratch.

Insiders familiar with the talks also cautioned that nothing is imminent and Facebook may ultimately walk away from the plan altogether.


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