MySpace, the fan driven music commmunity that has grown like wildfire in the past couple of years is about to start a record label.  Let’s hope that they have a broader vision for this than what was reported in  Digital Music News.

"The move has been anticipated for some time, and could catapult several artists to stardom. But unlike a traditional record label, MySpace will be able to avoid some of the pitfalls associated with talent scouting. Picking bands has always been a hit-and-miss game, and the number of losers has always dwarfed the number of winners. But in the selection of Hollywood Undead, Anderson pointed to feverish activity among MySpace users, making the decision less about gut and more about actual fan response. The Hollywood Undead album is slated for release during the second quarter of next year."

These are really smart people on a tear and backed by Rupert Murdoch megadollars.  Watch for signs of a new generation music company springing forth.

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