Music for sale on MySpace

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SCOTT JAGOW: I bet Apple didn’t miss this announcement: A certain social networking site is gonna let musicians sell their songs. As Janet Babin reports, MySpace has become a lifeline for some three million unsigned bands.

JANET BABIN: Take the Spiderbags from Chapel Hill. Guitarist Rob DePatri says when they played their first gig in Brooklyn a few months ago . . .

ROB DEPATRI:“It was pretty much standing room only, and I attribute that to MySpace.”

The MySpace deal with copyright management company Snocap will let bands like the Spiderbags turn their profile page into a virtual storefront.

Unlike other music sale sites, MySpace downloads will play on any MP3 player. Peter Gaston with Spin Magazine says that should concern the music industry.

PETER GASTON: “The major labels are going have to come around and deal with it at some point, and iTunes might have to reconsider its digital management issues as well.”

Artists can register for the service now, and begin selling music before January.

In New York, I’m Janet Babin for Marketplace.