Reuters report that Facebook are keen to follow MySpace's lead and get in the digital music business. Why the "me too" strategy? I wouldn't underestimate the effect of MySpace�s phenomenal streaming stats for the first week of launch. But companies don't just make strategic decisions on the spur of the moment right? Right, but this doesn't feel like a big strategic centre piece, rather a way of getting some of the action without pursuing an expensive record label licensed strategy (the reports suggest partnerships with existing social music services rather than a proprietary service). And that isn't necessarily a bad thing. Music is not as central a part to Facebook as MySpace nor will it ever be. So it doesn't make sense for Facebook to launch copycat MySpace offering.
A smart strategy from Facebook will focus on tapping into one of the leading social music services and creating a heavily tailored Facebook implementation to layer on top of it, so that it provides a relevant solution that's appropriate to Facebook's look and feel, and to its users. So don't hold your breath for a MySpace Music II.