MySpace to Stream Sony BMG Videos and Music

Social networking juggernaut MySpace has struck an advertising-supported deal with Sony BMG for MySpace users to stream Sony BMG video and music content.

Social networking mega-site MySpace has struck a deal with Sony BMG to let MySpace users stream selected Sony BMG music videos and audio content, in exchange for a share of sponsorship and advertising revenues. The content will be available on selected artists’ MySpace pages (because you know Bruce Springsteen is checking his friends list every day!), and MySpace will promote the company’s artists and content throughout the MySpace site. Financial terms of the deal were not revealed.

“We are happy to be working with MySpace as we continue to develop new approaches to doing business online,” said Sony BMG’s global digital business president Thomas Hesse, in a statement. “This new effort is a great way to build new audiences for our artists, bring value to fans, and offer exciting new opportunities to advertisers. We look forward to working closely with MySpace as we roll out this ambitious new project.”

Sony BMG is the world’s second-largest music label and features popular artists like Franz Ferdinand, Good Charlotte, Dido, Foo Fighters, Modest Mouse, Tenacious D, Bob Dylan, Brandi Carlile. MySpace is one of the most-trafficked sites on the Internet, boasting about 70 million active visitors every month.