Record Labels Placing Big Bets on ...

ars technica - The recording industry is in dire straits. Compact disc sales are falling, illegal file-sharing is rampant -- despite aggressive efforts to stamp it out—and the industry has seen what was a $15 billion business shrink to $10 billion over the last decade.

That's why the industry has so much riding on MySpace Music, the new joint venture between the giant social network and three of the big four record labels, which was originally announced in April and is expected to formally launch within days.

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