Key features include the following.

• A new social and pop culture calendar that "combines your friends' events, your events, events from your favorite artists, with pop culture events and sponsored events."
• Ability to buy concert tickets directly from an artist's profile.
• "Social advertising," wherein advertisers can purchase ad space inside users' social calendars.
• Cross-plaform event viewing in which a user's MySpace calendar includes Facebook events. "We're providing features to share events on MySpace via the Stream and across the web including on Facebook, Twitter, and tiny url."

The announcement focuses on the benefits to both the Myspace users and the individual, up-and-coming "artists" who have used the service to promote themselves. It will be interesting to see how bigger companies use the platform.