I might be late to the game here, but this is an interesting idea (and it sounds like the millenial consumer base they're looking to target is lapping it up- T-Mobile says its customers have streamed nearly 7,000 terabytes of music - and 5 million more songs per day than before the launch of Music Freedom).
site for college kids only, everyone is instantly connected to the ppl that go to their school (so there is no friending), text and video chat, geo-location functionalities, post general updates or updates in diff categories
not possible for a brand to create a page of its own since you need a college e-mail