Facebook preparing its own music streaming service?

Like every other tech giant these days, Facebook is looking to get its fingers in more pies, and apparently is planning its own streaming music service to compete with the likes of Spotify, and of course most recently Apple.

This news comes from Music Ally (via Engadget), which reports that Facebook is currently negotiating with record labels with a view to making money from advert supported music videos.

Apparently Zuckerberg wants to get this music video scheme up and running first, but then audio streaming is next on the list. This wouldn't exactly be a big surprise – indeed, we wouldn’t be surprised by a move into any territory, given that Facebook wants to become all things to all people, so nobody has to leave its confines and go anywhere else online.

Facebook could build its own music streaming offering from scratch, or opt to acquire an existing outfit which is probably more likely – the social network isn't shy about opening its wallet and making purchases.

Apple has of course recently launched its own streaming service following the acquisition of Beats Electronics last spring – it offers not only music streaming, but internet radio and social networking, aiming to help users discover new music as easily as possible (something it does quite well, by all accounts, despite some early interface glitches).

The latter would obviously be Facebook's intention as well, and the social network would certainly have a head start in terms of already having a ton of data on its userbases' musical preferences.