Facebook to Launch Music Service

Rumors have been going for some time now that Facebook would create a new online music service. The LA Times has recently reported that the new service could be launching this Fall during a F8 conference held on September 22 in San Francisco.

On the show “Fast Money Halftime Report,” John Forter, a technology reporter for CNBC, expressed his thoughts on Facebook entering a market that is becoming increasingly competitive with new services like Spotify, Google’s Music Beta, and Apple’s “cloud” storage.

“What’s less clear is exactly how Facebook’s music platform would work.” Forter elaborated in a blog post on CNBC. “Facebook has not been negotiating to actually become a music retailer itself; instead, it may be creating an environment where third-party music services such as Pandora, Spotify, MOG and others can offer their wares.”

Information taken from Music Television website.