MySpace, the largest social networking Internet site, is planning its first foray into producing video programming with a concert webcast set for Nov. 18.

The “MySpace LIVE!” production will combine video of musical performances by artists including Paul Oakenfold with user-generated content, the company said Monday in a statement. Marc Scarpa, who worked on the webcast of the Tibetan Freedom Concert in 1996, will direct the production and created a six-minute viral video from the content for distribution on MySpace.

The entry of MySpace into video production marks a new turn for the company, which began as a meeting place for Web surfers and has developed into the third-largest video sharing site, according to Nielsen//NetRatings. News Corp. purchased MySpace last year and is trying to maximize the site’s potential by using it to promote shows on Fox television networks and to link advertising to content.