Today, MySpace and SNOCAP formally announced a major digital music partnership. This past weekend, The Wall Street Journal, The New York Times, and many other publications ran stories about a possible deal.
It's a big announcement for both companies.
"Up until now bands faced the challenges of content availability, technology and distribution," said Tom Anderson, president of MySpace. "This music service enables artists and labels to oversee their own commercial and distribution platforms while lowering the barriers for all bands to sell music directly to their fans in a way that's easy and totally legal."
"SNOCAP's partnership with MySpace empowers the music community in a profound way by allowing artists to establish a direct commercial and social relationships with their fans," said Rusty Rueff, chief executive officer of SNOCAP. "Now, every artist can distribute their music instantly and directly to their fans, making them relevant whether they sell one hundred tracks, ten thousand tracks or ten million tracks."