Apple's iTunes remains the dominant digital-music destination and has increased its user awareness lead over competing digital-music sources. Eighty-two percent of all U.S. fee-based users and file sharers are now aware of iTunes, according to this study.
MySpace on Thursday officially announced plans to launch a digital-music service designed to rival top online music retailer iTunes. The News Corp.-owned social network has teamed up with leading record companies Sony BMG Music Entertainment, Universal Music Group and Warner Music Group for its MySpace Music venture. Industry observers predict MySpace will spend about $50 million to $100 million on the project over five years.
According to this report, social network MySpace will announce as early as today the creation of MySpace Music, a retail music service that will compete with iTunes. The service reportedly is being formed in conjunction with major music labels Sony BMG Music Entertainment, Universal Music Group and Warner Music Group. EMI Group is reportedly still in talks with MySpace about joining the venture.
Teen retailer American Eagle Outfitters is promoting its venture into clothing for 28- to 40-year-olds with a new Web site. The Martin + Osa brand is broadening its reach beyond its 20 nationwide stores through the launch of a high-tech e-commerce initiative.