MySpace Music to name Courtney Holt chief next week

Courtney Holt, an MTV executive, will be named as president of MySpace Music, possibly as early as Monday, according to a source close to the company.

MySpace Music is the digital music service formed by News Corp. and the four largest recording companies. Some observers say that MySpace, with a well-established history of offering music, could emerge as a competitor to Apple's iTunes.

CNET News first reported that Holt was offered the job last month. He has long been a fixture at the intersection of digital technology and music. Currently, he is MTV Networks' executive vice president of digital music and media. Previously, he was senior vice president of New Media & Strategic Marketing at Interscope Geffen, and before that he was head of New Media at A&M Records.

Holt could not be reached Friday evening. MySpace declined to comment.

Launched in September, the service features downloads of MP3s and ad-supported streaming music. What was missing was a CEO. As the search for a chief dragged on and candidate names came and went, observers began asking whether anyone wanted to steer this ship.

MySpace Music is also expected to announce a new ticket and merchandising initiative, the source said.

[Galaxy5]

Man, I feel sorry for her.

[TracyRHill]

Hopefully, he will have the desire to push the envelope with the technology that is already available. I?d love see Myspace Music actually innovate the music industry for real. First, as anyone that has seen CNN.com Live knows, internet video streams are like watching television now. Myspace Music has a real opportunity to become a global streaming version of MTV. I?d love to see a weekly live music program with an in-studio audience, a global streaming version of the Myspace Music Awards (similar to the MTV music awards but worldwide), and other content that will engage. What artist wouldn?t want to play to Myspace Music?s global audience of 160,000,000. Imagine debuting a new CD that way. And since it?s the web, the audience could push one button below the live video streams and have access to every song the artist ever did. It would be a live version of a point of purchase display that reaches 160,000,000. Now that?s what I call revolutionary. Thank you! And yes, I?ve already told the idea to the top people at Myspace Music.