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MySpace to acquire iLike

MySpace will soon be adding the social music recommendation service iLike to its wobbling empire, as a $20 million (£12 million) deal is soon to be completed this week. According to the Telegraph, the deal is being seen as an effort to bolster MySpace’s image as a site for new bands to host their music.

There are more than 50 million registered users on iLike, which takes note of songs that users listen to and in turn makes recommendations on new music based on listening habits. The service – launched in 2006 – also works to keep listeners informed on what their friends are listening to.

Guitar Legend Les Paul Dies at 94

Les Paul, famous for pioneering electric guitars which were used to make some of the world’s greatest rock music, passed away at the age of 94. Gibson, the company that sold his guitars, reported that Paul died of complications caused by pneumonia in New York.

CMX: Wave of the future?

In an effort to turn the tide against the increasingly popular practice of single song purchasing and back toward an interest in entire albums, label execs (from Sony, Warner, Universal and EMI) are talking about issuing a new package in CMX.

UK Music survey finds drop in illegal downloads

According to a recent survey, there has been a slight decrease in illegal music downloads. The number of young people acquiring music illegally has dropped by 2 per cent, according to a study for UK Music carried out by the University of Hertfordshire.

Site launched to compare music download prices

CompareDownload.com has just been launched in order to help users compare download music track prices between retail sites like iTunes, 7Digital, Amazon, Play, Tesco Digital and We7.

Big Green Gathering tickets valid for Big Chill

NME reports that those who purchased tickets to the Big Green Gathering festival (which was cancelled this year) will be able to exchange them for a spot at the Big Chill festival, as long as said ticket holders are willing to part with another £20.

Orange sets its sights on youth music market

It seems Spotify isn’t the only one going after the youth mobile phone market, as Orange, Universal and C4 appear to be doing much of the same.

Spotify to launch first iPhone app

Spotify, the Swedish music streaming service, has just announced that it will launch its first iPhone application.  The service, which has so far only been available to computer users, will utilize a peer-to-peer network for online music streaming through the phone. 

Five female artists nominated for Mercury Prize

Five female artists – none of which can be considered pop stars in the traditional sense – have been picked as possibilities for this year’s Mercury Prize, a record number for the fairer sex. 

Sponsorship deals major factor in music profits

Though the music industry has been experiencing some infamous lows – with CD sales dropping and online piracy being some of the major factors behind decreasing revenue – a new report suggests that things are looking up. The Guardian reports that music sales grew 4.7 per cent last year, contributing £3.6 billion to the British economy.