MySpace and Facebook are discussing the possibility of sharing content. The 2 social media sites differ somewhat in how they use content at this point. MySpace users typically respond to content that has value to other users on the site, whereas Facebook users congregate more based on friendship networks. Facebook intends for users to be able to share MySpace content with its Connect feature, which allows users to discuss and share content seen on a partner website.

Recently, MySpace added a new music service in the US and Australia, which allows users to add audio tracks to profiles and can be purchased for Apple’s iTunes store. Should be interesting to see how the talks evolve into a new agreement between these two large social networking sites.