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MySpace officially announced its acquisition of music recommendation service iLike today, but said the platform and popular Facebook application will be expanded beyond music to other areas of the site, such as videos and gaming.

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[Forbes.com] Jay-Z pulled in an estimated $35 million over the past 12 months, topping our annual list of Hip-Hop Cash Kings. It's far from the $82 million he made last year, but more than enough to reclaim the crown from 2008's monarch, 50 Cent. The Queens native drops to fourth place with $20 million, down from $150 million a year ago. Both rappers had a hard time living up to prior yearly totals fattened by one-time mega-deals. For 50, it ...

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The Regional Court of Hamburg has ruled in favor of German collecting society GEMA, which had requested that the court issue an order prohibiting file-hosting service rapidshare.com from making around 5,000 music tracks available on the Internet. The court fined Rapidshare €24 million ($33.5 million). "The judgment states that the hosting service itself is now responsible for making sure that none of the music tracks concerned are distributed via its platform in the future. This means that the copyright holder ...

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> In 2008, 1.88 million vinyl albums were purchased, more than in any other year since Nielsen SoundScan began tracking LP sales in 1991. The previous record was in 2000, when 1.5 million LP albums were sold. More than two out of every three vinyl albums bought in 2008 were purchased at an independent music store, according to SoundScan. > > Vinyl record sales rose 14% between 2006 and 2007, from 858,000 to 990,000. In contrast, CD sales plummeted over ...

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