Bloomberg reported Thursday that News Corp.'s (NYSE: NWS) MySpace asset wants to leverage its mindshare to sell music. Not a huge leap of logic there -- MySpace is a touchstone for the online-savvy youth, a group that enjoys consuming songs and going to shows. Only problem is, the MySpace generation also intersects with another club -- the iPod generation -- and going against Apple (NASDAQ: AAPL) won't be a simple task for Rupert Murdoch and his social-networking empire.

Bloomberg points out an another interesting issue for MySpace -- its buzz appears to be weakening somewhat. I found it very interesting that Facebook is challenging MySpace's dominance in terms of user growth, and that Google (NASDAQ: GOOG) may not be doing as well with its MySpace deal as perhaps it theoretically should be.

This music initiative, called MySpace Music, is intended to aid top-line sales expansion. Remember the days when MySpace was the undisputed god of the web? Hey, it's still a major online brand, no question, but I find it funny how, in certain respects, MySpace just isn't the untouchable social network that it once was. It definitely calls to mind the axiom dictating that the hot domain one year might not be quite the zeitgeist the next; I've certainly been hearing more and more about Facebook than I have about MySpace these days.

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MySpace wants to tune in to music profits originally appeared on BloggingStocks on Fri, 04 Apr 2008 09:58:00 EST. Please see our terms for use of feeds.