BigShinyThing

ZDnet reports that the imprint, to be manufactured by Universal Music Group’s Interscope Records, will begin life Nov. 15 with the release of the compilation “MySpace Records: Volume I.”

That initial title will feature a mix of tracks by major-label, independent-label and unsigned acts, including Weezer, the All-American Rejects, Dashboard Confessional, Fall Out Boy, AFI, Against Me, Plain White T’s, New Year’s Day and Hollywood Undead.

The latter act, a Los Angeles rock/rap act, is MySpace’s first signing. The group will issue its own album on the label early in the second quarter of 2006.

The majors have also noticed the benefits of promoting their acts on MySpace. This year established acts such as Coldplay, Foo Fighters, Weezer and Black Eyed Peas have all promoted new releases with album world premieres and music streaming on the site. Madonna’s new album will be streamed exclusively on MySpace when it is released on November 15th.

MySpace CEO Chris DeWolfe says:

It’s become a lot more than a website. It’s become a lifestyle brand. It makes a lot of sense to come up with a record label. Radio has become less and less important … MySpace, by getting so huge, can truly move the needle in terms of musical tastes.

A claim that should truly freak out those already beleaguered radio stations.