MySpace Gets Signed by Sony BMG

MySpace today announced a new licensing agreement with Sony BMG Music Entertainment that shares revenues gained from sponsorship and advertising, and lets the site post video and audio content from the label's artists.

Sony BMG, one of the big five record labels, encompasses a tremendous amount of music, with over 60 labels under its banner including such groups as RCA, Arista, Columbia, Epic, Jive, and Rough Trade.

The repertoire of artists is massive, and under a new deal with MySpace, Sony BMG will license videos, audio tracks, and other content on artists' MySpace profile pages.

As part of the deal, MySpace agrees to promote Sony artists variously on the site. MySpace already hosts hundreds of events, such as the Secret Shows series, live webcast events, and a by-request artist session for MySpace users called "Hey, Play this..."

With 110 million global users, MySpace is certainly a powerful tool to reach a larger audience. But with over 7 million bands already using the site, and now one of the biggest major labels with a vested interest in it, "taking it to the next level" will just mean more difficulty for independent artists trying to gain exposure through the site.