Sony Plans To Launch iTMS Competition

iTunes Music Store,, MusicMatchis service, Microsoftis service... Is there room for one more? According to an article at MSNBC, Sony thinks so. Sonyis planned service, dubbed Net Music Download, will show up in Japan first, and will then make its way to the US and Europe. Sony claims that such services will be vital to fight rampant music swapping on the internet. From MSNBC:

Sonyis so-called "Net Music Download" plan will be introduced next spring in the U.S. and Europe, following a launch in Japan.

Sir Howard Stringer, Sonyis vice-chairman and head of the groupis entertainment operations, told the companyis annual dealer conference that such moves were vital to stem losses from Internet piracy.

Speaking in Paris, he claimed that piracy had cost the music industry some $7 billion in the past two years while U.S. film studios had lost $3 billion-$4 billion.

You can read the full article at MSNBCis Web site.