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Ah hell. I've thought someone needed to have done a site like that for ages. The amount of traffic it would have generated would have given it massive ad revenue, allowing them to pay the artists. Sure beats paying £0.99 per song on iTunes.

As much as I'm against piracy, I do often feel music companies don't help themselves. And it's exactly the sort of thing activist felt SOPA would have done, allowed large corporations to shoot down competitors.

EDIT: Going off the post fromt he user below, doesn't sound anywhere near as good is that was the guy's business plan.