SonyBMG is licensing its artists materials to MySpace for a cut of the sponsorship & ad-revenue generated from the music videos and profile pages.
What does this mean to you, the consumer? Nothing really. OTCS suspects that a very small % of bands on MySpace are signed to a SonyBMG label, and those that are, OTCS suspects were already putting their music/video online anyway.
But mazel to SonyBMG for figuring out a way to monetize this avenue of communication. Of course, the financial terms of the deal were not disclosed...so whether or not it is successful, only time will tell.