"Fox Interactive Media is in the midst of a massive push to harness the power of MySpace and its other Web-based businesses to redefine online advertising and marketing, e-commerce, digital video-on-demand, blogging, instant messaging, classified advertising and other interactive services in a user-friendly way that is poised to add hundreds of millions of dollars to News Corp.'s revenue 
base...'It's so not about social networking anymore. It's about what is next'...". User generated video will also get heavy play, but interestingly music, which has long been at the core of MySpace's growth is not mentioned in the new plans. (Hollywood Reporter)
Meanwhile #2 social networking site Facebook is getting more aggressive with music and its own promotion by giving away 10 millions iTunes song samplers (Reuters). Several dozen serious upstarts are also aiming straight at the leaders and other successful sites like live music community Jambase are adding attractive social networking features.
For more on MySpace check out Hypebot' recent special series of articles.
