MySpace to Launch Music Store in September

More than just a place for your friend’s band and your sister’s HTML skills, MySpace will be expanding its reach into digital music with a music store, set to launch this September. The social networking giant seeks to offer free music, digital download sales, ringtones, T-shirts and concert tickets.

In an interview with Fortune, MySpace CEO Chris DeWolfe explained that this is part of a conscious effort to retain users who might otherwise ditch the site for Facebook. "MySpace is more about self-expression and individuality,” he said. "One of the reasons why we’re investing so heavily in music is that self-expression and music go together so well.”