// MySpace Launches Record Label //

[System.S]

, developed by Tom Anderson as a social networking site to compete with Friendster, is launching its own record label with Interscope Records. The site has 35 million registered users and has become vastly populated with musicians, bands and other music aficionados.
Anderson, who will serve as head of A&R, realized MySpace was an incredible way to scout new talent when he was able to track the meteoric rise of Hollywood Undead, MySpace Records first signing. Within days of putting up their profile, a single page website that features samples of their music as well as touting their interests and the band's history, users began to email their friends about the band, fueling major buzz.

The announcement comes only days after the ink dried on News Corporation $580 million dollar deal to acquire MySpace parent Intermix Media Inc. The venture with Interscope, owned by Vivendi's Universal, was a no-brainer for the label who has successfully promoted its own artists on MySpace by developing profiles to showcase its artists upcoming releases and concerts.

"MySpace Records Volume One" - the first release - will bow on November 15th and feature Interscope acts that have been marketed on the site as well as MySpace's most popular unsigned acts.

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