MySpace Music has agreed to stream Indie Bands in exchange for sharing in the ad revenue with the service. Tunecore will serve as the distribution company for MySpace.

"Artists will simply pay a small flat fee for inclusion in the on-demand MySpace Music streaming service, which is partially owned by major labels. In return, MySpace promises to pay artists a percentage of the money it makes from the ads that accompany the music."

(via Wired)

Tunecore said that by the end of 2009, it projects paying out more than $30 million to independent artists—who have 100 percent ownership of their music. The majority of the money will come from song sales. According to Tunecore, consumers who are listening to streaming music aren't storing it on their own devices—which will then play a big role in artists’ revenue stream.

Previously:

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