Myspace hopes to reinforce its reputation as an ally for artists through its new program called “Music Video Collaborations With Artists We Like.” The program will allow Myspace to partner with artists and labels to create original content that will be shared on Myspace and YouTube. The first collaboration will be with an independent record label called Federal Prism that was founded by TV on the Radio member and producer Dave Sitek.

Advertising to musicians and fans is a strategy being used by Myspace to help it regain its former glory.

“The new site is hugely focused on music,” says Lars Djuvik, vice president and director of client development at Myspace parent Specific Media. “It really takes great partnerships to have a great music program.”

Myspace will produce six videos from different Federal Prism artists over the next several months. The first video in the series is inspired by TV on the Radio’s new single “Million Miles.”

Myspace VP of content and creative Joseph Patel told Billboard.biz that the new Myspace program is a great way to show that Myspace is a strong platform for both artists and fans.

“For me, from a content perspective, I could spend money and do an interview with the band, or I could spend that money and work with the band and shoot a creative music video that lasts forever and that we get content out of,” Patel said. “Everybody wins.”

“Myspace has laid out a rough time table of one video per month for the series. Collaborators beyond Federal Prism have not yet been announced,” reports Billboard.