News Corp.'s social networking Web site, MySpace, said it plans to sell more merchandise to its 109 million users following an agreement with many leading record companies, to offer music downloads and concert tickets.
MySpace's chief executive officer, Chris DeWolfe, said the firm will start different areas of e-commerce on its site and improve them to better the user experience.
DeWolfe added that MySpace was in talks with Internet retailers and planned to add a check-out feature in its services, though he never revealed the companies that were involved in the talks.
MySpace formed a partnership last week, with Vivendi SA's Universal Music Group, Sony BMG Music Entertainment and Warner Music Group Corp., to share revenue from sales of concert tickets, mobile phone ring tones, and revenue from sponsorships, music and related merchandise.
The online retail market is currently dominated by Amazon.com Inc. and eBay Inc., but the partnerships, MySpace is making will allow it to better compete in the online retail business with the existing companies.
MySpace is aiming at creating various sources of revenue beyond advertising, and also to attract more internet users to its site.
MySpace chief operating officer, Amit Kapur said the firm was considering two options of either building its own check-out engine for purchases or getting the technology through an agreement with Google or Amazon Inc.
The firm will start selling music in the next five months and forecasts increasing its revenue as users compare friends' play lists and buy songs.
MySpace currently has more than 5 million musicians who use its site to showcase their work.