MySpace Wants To Become The Quintessential Online Music Hub

At at a Tuesday event, MySpace and new owner Specific Media will detail plans to revive the dying social network. According to a document leaked to AllThingsD, the key to a successful resurrection will be music, music and more music.

The leaked pitch deck suggests MySpace wants to become “the #1 online community music destination”. Myspace is already known as a place for musicians to hang out, but it seems as if Specific Media wants to take this one step further.

More than just a social network, MySpace will likely use it existing music licensing agreements to develop a new platform based on ad-supported music and video streaming. How MySpace plans to become the Netflix of online music isn’t clear. We’ll have to wait until tomorrow to put all the pieces together. [AllThingsD]