The music industry has been looking for a game changer for a while — how can we get consumers to buy music? There have been some huge leaps forward, namely iTunes downloads, and more recently Spotify’s streaming service. But what if the music industry had access to 750 million active users? If rumors are true — that Facebook is about to enter the on-line music world later this year — then they might get that opportunity.

John Forter, a technology reporter for CNBC said:

Next month is going to be a big one for music. I’m hearing from someone familiar with the plans that Facebook plans to launch its long-rumored music service at the F8 conference on September 22. Now, it seems likely that Facebook won’t actually host the music, but will partner with others to do that.

We have to wonder whether this is an area that Facebook wants to even go near. The music industry is in quite the transition period. Facebook is the premier way to exchange music but it has relied mostly on sharing YouTube videos and Soundcloud tracks. It will be exciting to see what the first move is.

For more info check out – http://newsroom.mtv.com/2011/09/02/facebook-to-launch-music-service-this-fall/

-LAMA Staff