Word on the street is that social media juggernaut Facebook is going to announce its own music service at the forthcoming f8 conference, held on September 22.
The company may also announce new tie-ups with digital music services such as Rdio, MOG and Spotify - according to industry rumors.
Experts are of the opinion that this new could end up revolutionising the entire digital music industry. Also, chances are the social media giant could extend the offering far beyond music streaming and offer additional features such as the massively popular platforms like Spotify does.
“It is now deliberately extending itself to be more than a social network and instead of just being a communications platform – this service will see the site become a social content platform," said music analyst formerly of Forrester Research, Mark Mulligan, in a statement, as reported by UTalkMarketing.
“I think Facebook has a great chance of going much further than MySpace and Last.fm ever went in bringing the social side of music recommendation together on a platform tailor made for friends communicating,” he added.