Facebook: Watch Out Pandora and Sirius XM Radio

Facebook is expected to announce its long-awaited music service this week at its annual f8 developer conference. The new offering may feature six online music platforms and its initial content will come from three partners: Spotify, MOG and Rdio. Facebook users will now be able to enjoy music within the Facebook.com site.

This service will differ from others as Facebook will not host or stream music while competitors Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN) and Google (NASDAQ:GOOG) all host music content on their servers. The music component may be the beginning of the company’s new media content platform as Facebook is rumored to be interested in streaming film offerings from services such as Netflix (NASDAQ:NFLX).

The news doesn’t bode well for other radio players Pandora (NYSE:P) Sirius XM Radio (NASDAQ:SIRI), CBS (NYSE:CBS), and Cumulus Media (NASDAQ:CMLS).