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There can not be many people on the who use the internet who have not come across Facebook. Now that it has achieved critcal mass in the world of social networking, it is working to expand its business and capitalise on the massive amounts of traffic that it receives.

The next thing that they are bringing in is looking like its going to be some kind of music streaming service to compete with the like of Apple’s iTunes. This would bring in another revenue stream for the site which at the moment relies on advertising.

This would bring it into more direct competition with social networking behemoth myspace – the original favourite of musicians and bands due to the fact that is has allowed the uploading and streaming of music for a long time now. Most active bands have their own myspace page these days.

Facebook is also directly targeting myspace with the addition of music template pages. These are pretty much a rip off of the myspace idea

The music template Page offers the ability to:

• Send updates about tours and concerts

• Showcase new releases and post your discography
• Add Facebook Music Player to stream your music and post buy links
• Sell tickets and merchandise
• Engage fans with rich media and streaming video
• Import photos from concerts anywhere in the world