Facebook is taking a page out of MySpace’s book as they hook up with LiveNation. The two companies announced a new Facebook application that will scan your music collection and cross-reference your favorite artists and generate a customized list of upcoming shows that you can post for your friends to see.

Recently, MySpace hooked up with Vivendi SA’s Universal Music Group, Sony BMG Music Entertainment and Warner Music Group Corp and began selling concert ticket to it’s millions of members.

Facebook is now offering a chance to buy tickets to shows via LiveNation, as they are a live music promoter and venue owner with their own ticketing business.

This means LiveNation will be leaving its long-term relationship with Ticketmaster. Unlike Ticketmaster, LiveNation’s music profiler does not link up with iTunes, Last.fm, or any other third-party program. A spokesperson says:

“When you sign up for My Live Nation, there’s an area where a user can go and push a button to link their My Live Nation to their music/mp3 library on their computer.”

LiveNation’s app will then divide your favorites into three lists: artists with with upcoming local shows, those with upcoming distant shows and artists who are not currently touring. That’s some pretty useful stuff.

All this will be added to your Facebook Profile for your friends to see which shows you are planning to attend.