As reported on Mashable yesterday, MySpace will compete directly with Apple’s iTunes service when it launches its new music licensing platform. MySpace has nearly three million bands within its community who will soon all be able to ditribute their music files via digital rights management (DRM) free MP3 files. Each artist will be able to set their own fees and will receive a majorty percentage of the sale. The rest of the fee will be split between MySpace and Napster, who is providing the platform.
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