Microsoft rolled out an entertainment-based section for its Bing search engine at a Los Angeles press conference this evening.

Bing searchers now have the ability to play any song listed in Bing search results in its entirety once, provided that the track is listed in the Zune music library. But the changes go far beyond that one feature.

The new changes add entertainment alongside existing Bing verticals like Shopping, Maps and Travel. On the simplest level, the results of any artist, track or album search query will first display a summary of actionable details organized by the Bing platforms. That includes not only the ability to stream any listed songs in full as mentioned, but also a list of upcoming tour dates and locations, a full discography, latest Twitter feeds, popular videos, news, lyrics, and links to buy music.

The full-song streaming element is provided by Microsoft’s Zune division, which according to Microsoft senior VP of online services Yusuf Mehdi was made possible through an arrangement with the major labels. Details of the deal are not known, but Mehdi does confirm that Microsoft is not simply eating the cost of each full stream.

“I would say it was something we invested in together,” he says.

The “buy” links, meanwhile, offer users the choice between AmazonMP3, iTunes or Zune. And Microsoft partnered with LyricFind for the lyrics page.

Beyond search, the Bing entertainment service also features a home page, where users can browse through a more curated experience created by the Bing team. That homepage will highlight newly released music, top-sellers, and top songs by genre.

In addition to music, the Bing entertainment vertical also presents information and on-demand content for TV shows, movies and games.

Much of these changes are also reflected in the new Bing iPhone app, which went live earlier in the day. It’s not yet clear whether the free music streaming option extends to mobile. But the mobile app does include a visual scanning feature that lets users search the Internet for more information on products by simply taking a camera phone picture of either the barcode or other details. For instance, taking a shot of a CD cover art will look up album reviews, prices, and availability in other retail outlets.

While rival Google remains the default search option for the iPhone, rumors are that Bing may replace it soon, which could be the boost Microsoft needs to elevate the search engine from its third-place slot behind Yahoo and Google.