Well, mainstream music anyway.
Interesting article in El Reg:
"Even if Facebook is only moderately successful in executing its plan, it will have more power than any record label has ever wielded. It will control the equivalent or radio and record stores, as well as the label. Or in movie analogies, be the monopoly cinema chain, the box office and the promotion."
Part of me is amused by this, part of me not. FB won't automatically have access to back catalogues of music but it may mean going forward they increase control over the output of current and future music. It all depends on the deals they can put in place.
Anyway, thought you peeps would be interested in this. It makes things like UMG controlling Soundcloud very tiny in the great scheme of things.