Another big player is projected to join the webcasting business soon, as "Facebook is expected to announce its long-awaited music service this week at its annual f8 developer conference," reports Wall Street Cheat Sheet. The blog notes that Facebook "may feature six online music platforms and its initial content will come from three partners: SPOTIFY, MOG and RDIO."

The music streams will be available directly from a user's Facebook page.

The move by Facebook is expected to be a part of the company's new media plan, with an offering of streaming film services such as  Netflix likely on the way.