I’ve long be a proponent of the music subscription model (see Rhapsody and Topspin) and am convinced that the entire music industry will be soon headed in this direction. Case in point, MySpace has an upcoming music joint venture with 3 of the 4 major labels that will launch in September (EMI is still a holdout). MySpace Music will be a combination music store/subscription service, with unlimited playbacks of full tracks, but for free. The revenue model will be advertising and paid downloads. Advertisers are already lining up, with some eight-figure deals being negotiated.