The pan-European campaign, which launches today, will initially run for eight months, and is aimed at bands, artists and music enthusiasts.
The Music Studio, on www.myspace.com/themusicstudio, lets users remix tracks and upload them to their MySpace Profile.
Bands can put themselves forward for a monthly ‘Ones to Watch' competition to win a session in a recording studio. It also provides users with the latest news and interviews from Vodafone-sponsored music festivals and events across Europe.
The venture will act as a branded platform for Vodafone to communicate and engage with music consumers in a social networking environment.
Vodafone last year ran a Music Reporter campaign which gave users the chance to travel to festivals across Europe and report back to the MySpace community, with the final winner reporting on a gig on MTV.