MySpace Adds Music Videos

MySpace launched a new music video portal today, aggregating licensed content from both big and independent record labels. CEO Owen Van Natta announced the news at the Web 2.0 Summit in San Francisco this afternoon.

Music videos make up a huge chunk of YouTube’s playcount, and the video site is working with Universal Music and Sony Music to launch the upcoming Vevo music video portal. It’s no wonder that MySpace is getting back to its music roots in order to regain some cultural relevance and make a little coin, as the music vids will include an option to purchase the songs through iTunes or Amazon.

MySpace is evidently now all about the “socialization of content,” a phrase that Van Natta reportedly kept bringing up during his Web 2.0 talk today.

One thing’s for sure, between Vevo, MySpace and MTV’s music portal, there are no shortage of places to find your favorite music videos.