Coming by the end of the month, MySpace’s long-awaited music store that will allow users to “download and stream millions of songs — including new music and back catalog — from three of the four major labels.”

In a move to take on Apple’s iTunes, MySpace’s Music Store, who’s downloads will be powered by Amazon, will allow fans to “share music through their pages and build communal playlists, as well as purchase merchandise and tickets,” says Rolling Stone.

“It’s not the same kind of listening you do with iTunes,” says the site’s co-founder Tom Anderson. “It’s about sharing songs with your friends and checking out what they are listening to.”

Will the move by MySpace be successful? Will MySpace users actually buy music?

Some might argue that the MySpace demo is simply there to discover new music and browse with no intent to buy while others would argue that if given the opportunity, the consumer would buy.

Taking into account the enormous amounts of traffic MySpace artist profiles generate, I betting that it will be successful for both Amazon and MySpace.

MySpace Music: Would You Make the Switch?