Hypebot: Orchard CEO on MySpace, imeem Buys Snocap, Pitchfork.tv vs Videogum, Wikipedia vs MySpace, Penny Distribution, Digital NARM Conference, iTunes vs MySpace

Music industry news from Hypebot:

Problems lie ahead for digital music distributors as labels demand lower fees and more services.

A letter to labels from The Orchard's CEO leaked to Hypebot showed concern for how the new MySpace Music will treat indie record labels and artists. A Hypebot commentary shed additional light on the issue.

Music based social networker imeem bought Snocap.

Last.fm says full song streams sell music.

Island Def Jam and TAG men's body spray have formed a hip-hop record label, TAG Records to be led Jermaine Dupri.

Coverage of two video sites run by indie music blogs that launched this week: Pitchfork.tv and Videogum. Vote on which one you think will be the most popular.

Virgin Megastore sales are up a surprising 11.5%.

Zune has cut deals with several major Latin American music sites.

Wikipedia beats MySpace as the top go to place for band and music info.

Music contest site OurStage.com has partnered with some of America's largest music festivals.

Study says only 40% of music will be sold via downloads by 2012.

Overlay.tv asked Hypebot readers to comment on their video tagging service and tell them how it can be used by the music industry.

An interview with the head of Penny Distribution.

The first Digital NARM Conference is taking shape.

User awareness of iTunes is up and MySpace is down.

HELP WANTED: Megaforce is looking for a marketing and digital coordinator and ArtistExcite seeks a marketing and business development staffer.

See ProHipHop's Hypebot Industry News category for past roundups.