UPDATED: Facebook plans digital music service – report

Facebook plans to launch its own digital music service in competition with MySpace Music, company CEO Mark Zuckerberg has said.

With social network competitor MySpace using its high-level News Corp. connections to launch a major label-friendly (some say too friendly) music service, Facebook – already hurting through sustained criticism of its new user interface and continually plagued by the challenge of monetising its traffic – plans to hit back.

Reuters explains Zuckerberg’s in conversations with a bunch of song streaming services, including iMeem, iLike and Lala, aiming to achieve an outsourced deal for music provision through Facebook. Executives are now meeting major labels to discuss the plans.

It appears nothing is imminent and the plan may come to nothing, Facebook, of course, is keeping its silence.

UPDATE: Mark Mulligan puts this news through his reality filter and comes up with the analysis, “A smart strategy from Facebook will focus on tapping into one of the leading social music services and creating a heavily tailored Facebook implementation to layer on top of it, so that it provides a relevant solution that’s appropriate to Facebook’s look and feel, and to its users. So don’t hold your breath for a MySpace Music II.” Take a look.

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