MySpace Music Not an iTunes Rival: MySpace CEO

Chris DeWolfe, CEO of MySpace, who has been on a whirlwind tour promoting MySpace Music, his new joint venture with record labels, says that the new service isn’t competitive with Apple and iTunes.

“I think it is a complimentary product to what Apple provides,” DeWolfe said in a phone call earlier today. “It will create more demand for iPod.” He insisted that they didn’t “create this venture as a competitor to Apple.”

I am pretty sure Chris’s record-label partners see this as an iTunes competitor. They would love to be able to stand-up to Apple and its dominant iTunes music store. Of course, these are the same geniuses who will not own-up to the fact that they are incapable of coming up with ways to save their own business.

When Apple came up with its digital record store, they all signed up. But when it did well, they started bitching-and-moaning about Apple and the money it was making from its iPod ecosystem. Apple might have sold over 5 billion songs from its online store, but the company still makes a bulk of its music-related revenues from the sales of iPod players and iPhones.

More from this conversation with DeWolfe to follow later today. Photo by Robert Scoble via Flickr.