Today, AOL Music is launching an AOL Music Sessions featuring the always attention-grabbing Beyonce. She’s expected to promote her latest album and perform hits like “If I Were a Boy” while also chatting about her new film “Cadillac Records.” About 20 million unique visitors check out AOL each month.

Then there’s the bad news: AOL has already axed Hometown AOL and Journals while AOL Pictures is expected to shutter in the next few months. AOL is also nixing its online UGC video service Uncut – Dec. 18. Users will be able to either transfer their videos to AOL’s more popular Motionbox or have their videos deleted.

Time Warner, AOL’s parent company, also plans to spin off its dying dial-up service.

Access to the site comes exclusively from AOL Music’s main page. There’s also a social networking element that provides music fans with a venue to vent about shows, discuss set lists and argue about their favorite moments from the show. Music industry execs are likely rubbing their hands with glee at another keyhole through which they can assess users’ interest in specific artists that goes far beyond the black-and-white data from ticket and album sales.

AOL Music is the Web’s most trafficked music site with over 20 million unique visitors per month. AOL Music’s network of sites includes Spinner.com, PopEater.com, and TheBoomBox.com and it is home to some of the Web’s most popular original series including Sessions, The DL, Top 11 Video Countdown, 3X3 and The Interface.