MySpace and Facebook have slugged it out a few years back, with the latter emerging to be the 800 lbs gorilla, while MySpace licks its wounds. Well, MySpace hopes to boost its sagging revenue figures by agreeing to an ad deal with Google that will expire when 2010 is no more, and has to look for alternative sources of revenue after that. In doing so, MySpace is mulling with the idea of charging for its streaming music section – after all, the music section is the most heavily viewed area of MySpace. Currently, MySpace is reportedly spending more than $20 million on streaming royalties alone, and it looks to be one big money sucking black hole without any light at the end of the tunnel in sight. With a subscription model in place, it might just put off its users, which in turn isn’t good if MySpace wants to strike an ad deal with any company out there. Will budding musicians look elsewhere to get their material out now?
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