What’s Facebook’s New Streaming Music Service?

Facebook will be launching its own music service this month, partnering with Spotify, MOG, and Rdio to create a streaming-music platform that would allow users to listen to music from within Facebook.com.

Sources say Facebook will not directly host or stream any music or media, but will rely on its partners to provide the content as it has done with its platform for applications and games. And though Spotify, Mog, and Rdio are the only reported launch partners, as with its games and applications, Facebook could expand, opening the platform to any number of other developers.

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Though Facebook has yet to make any official comment, the news comes from reliable sources within the company, who say the music and media platform will be announced at Facebook’s f8 developer conference on September 22. Tech and media news site Mashable is also reporting the possibility that Facebook’s new platform may go beyond music, though that information has yet to be confirmed and may not be announced at f8, as will be the music platform.

Still, the music platform could be Facebook’s gateway into streaming media. Mashable suggests that Netflix (NASDAQ:NFLX) could stream movies through Facebook. Any media service partnering with Facebook could get a leg up on the competition, but since Facebook tends to have a doors-open policy for anyone interested in developing content for the site, services like Amazon on Demand (NASDAQ:AMZN), Pandora (NYSE:P), Hulu (NASDAQ:NWSA), or even iTunes (NASDAQ:AAPL) could get in on the action. All of the services would benefit from the more than half a billion users Facebook has around the world, while Facebook would keep itself relevant and further distinguish itself from the competition, such as Google’s (NASDAQ:GOOG) new social-networking site, Google+.

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