MySpace hope you'll pay

TechCrunch is reporting MySpace plans for charging visitors to listen to music. Understandable to a point - at the moment, the company is burning through USD20million a month on royalties for streaming music, which is ridiculous from a business point of view.

The trouble is, the big streaming bill is because they're paying too much to the labels. Admittedly, raising a paywall will help by sending most of MySpace's traffic away. But wouldn't it just be quicker to close MySpace down altogether rather than make it dwindle away to nothingness?

MySpace: Friends Reunited is waiting.