Facebook is expected to launch its previously reported music service, Facebook Music presumably, next week (something seemingly confirmed by a posting by the Warner Bros US technology department reading "need a Facebook app programmer - it's a rush job, but needs to be good"!).
According to tech website Co-Ed, Facebook Music will offer many of the features found in MySpace Music. Artists will be able to have their own Facebook URL (eg facebook.com/mcfly), and post information and multimedia content on to their own Facebook page. Fans who are Facebook users will then be able to tag themselves as fans on a band's page, and feature those artists' content on their own pages.
MySpace will be watching the new Facebook music offering with interest (and possibly panic) because, of course, it is in the music domain that MySpace still dominates. If Facebook can take over as the music makers' social network of choice it will be hard to see what MySpace still exists for. Which won't be good news for the Murdoch types who spent so much money buying it.