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News emerged Friday that Facebook may be considering adding music to its mix. According to the New York Post, Facebook CEO Mark Zuckerberg is considering getting into the digital-music business.

If the report is true, it would put Facebook on the heels of MySpace’s latest strategic effort to differentiate itself among youthful social networkers.

Rhapsody.com, iMeem.com, iLike.com and Lala.com are among the digital-music sites Facebook is reportedly in talks with. Facebook is also said to be in talks with major music labels. It’s a move that would put Facebook in competition not only with MySpace, but also Apple’s iTunes Store and Amazon.com, among others.

“Facebook is a serious challenger to MySpace and they would certainly want to do anything that record labels would allow them to do with advertising-supported music,” said Phil Leigh, senior analyst at Inside Digital Media. “Advertising-supported revenue would be good for Facebook and certainly free access to recorded music would be good for Facebook members. It would be good for the labels, too. If the MySpace deal is working out well, then the labels would probably want to replicate that on Facebook.”

Streaming Music?

MySpace Music streamed a billion songs within days after its Sept. 25 launch. By contrast, it took the iTunes Store nearly three years to reach that mark. MySpace admitted it doesn’t know if it can keep up those numbers. Its launch was highly publicized.

What’s not clear is the pricing model. Would Facebook, if sells music, go with a flat price for a digital download, a subscription model, or an advertising-supported stream, as Leigh suggested? There is no lack of competition on any of those fronts. Nokia and Sony Ericsson are challenging Apple’s digital-music empire with a subscription model.

In a recent consumer study by Strategy Analytics, 84 percent of respondents indicated a willingness to pay for a…

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