The new service will be revealed at Facebook's F8 Developers Conference, which will be held on September 22, 2011

Facebook has already achieved firm standings in the areas of social networking, online gaming and advertising, and now, it's going to try its hand at music.

Facebook has announced that it will release a music streaming service at its F8 Developers Conference, which will be held on September 22, 2011.

The new service will utilize third-party services instead of being developed in-house. Many news reports say that Spotify, which is a Swedish DRM-based music streaming service that recently hit the U.S., will likely be one of the third-parties involved, but won't be the only music service included in the venture.

Last week, MOG's Founder and CEO David Hyman dropped some heavy hints to Business Insider that MOG, a paid subscription online music service, will likely be apart of Facebook's music streaming service as well. It even recently developed a HTML5-based player that could easily fit right into Facebook.

"MOG already has a strong relationship with Facebook," said Hyman. "It uses Facebook's social graph to help subscribers discover new artists based on those their friends already 'like' on Facebook."

According to Business Insider, no other service has this sort of admission to Facebook's social graph.

In addition, Rdio, an ad-free music subscription service, is to be apart of the Facebook streaming service as well.

It is expected that the combined players from Spotify, MOG, and Rdio along with a music feature based on what your friends "like" will make up the Facebook streaming service.

"Paying an extra $500 for a computer in this environment -- same piece of hardware -- paying $500 more to get a logo on it? I think that's a more challenging proposition for the average person than it used to be." -- Steve Ballmer
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