Facebook to challenge Apple’s iTunes Store?

“Facebook may be getting closer to launching a music service that competes with Apple’s iTunes, the Financial Times reported Wednesday,” Caroline McCarthy reports for CNET.

“Sources told the publication that Facebook has been approaching major record labels about licensing deals so that it can sell music through its Web site,” McCarthy reports.

“The Financial Times article suggests that like MySpace Music, the shadowy Facebook music initiative would likely offer both streaming music and downloads. ‘While details remain vague, record executives said that they expected a service would offer consumers free streams of music, supported by advertising, as well as the ability to pay for downloads in MP3 format, which can be played on any device,’ the Financial Times article stated,” McCarthy reports.

“In a statement responding to a request for comment, Facebook [said they] ‘created informational pages called ‘Music on Facebook’ and ‘Film on Facebook’ as guides and resources for musicians, bands and filmmakers wanting to create their own Facebook Pages. The ability for musicians, bands and filmmakers to create Facebook Pages has been available since the launch of the Facebook Pages product on Nov. 6.'”

“Clearly, Facebook wants to make a play for pop culture, but these latest rumors about big agreements with the record labels aren’t much more substantial than the ones we read five months ago,” McCarthy reports.

Full article here.

18 Comments

  1. Great! Now any time someone buys music for their girlfriend or wife via FaceBook, the whole world will know about it, thanks to FaceBook’s broadcast feature. So, if you were planning on buying music as a gift to your loved one, this is a perfect way to spoil the surprise. I mean, who cares about privacy protection anyway? (Not FaceBook!)

    As for me, I tried out FaceBook for a day or two. What a waste! With FaceBook, you can set up your own tacky-looking page and have everyone log on to it to say, “gee, your’re really cool!” Talk about a value-add! And, you send someone a wink! Whoopee!! Now I can see why FaceBook is valued in the $ Billions, and why VCs are falling all over each other to dump money into this ponzi scheme.

    I can’t wait until some very powerful investors wake up one day and in unison decide, what the fsck where we thinking?

    Yep, Apple is doomed alright. the iTunes Store is toast. Yeah, right. If I read one more lame-ass “iPod killer” story, I’ll hurl.

  2. Okay, so I have a Facebook account that lists all the latest music I’ve purchased. I then begin getting messages from other FB’ers that they’ll trade me A for B song. I don’t know anyone on FB, but with the bent to share so much, isn’t sharing music a natural extension. Oh, record execs, will you never learn? Let stores be stores and social sites be whatever they are.

  3. We can’t trust facebook. My whole university loved facebook back in 05-06. Then, it shot itself in the foot with these applications. Now, everyone hates facebook. Facebook was great for its simplicity. Now it’s not much better at all than myspace. I hate facebook now. Honestly, what were they thinking with these applications?

    Facebook sold out on those who loved it. Now it is completely about commercialism. Forget you facebook.

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