Kerchoonz: The Face Book Killer?

We wait with baited breath for the lunch of a new social networking site! The USP of this site is that the artists get paid for any downloads to fans while the downloads remain free.
While there must be a catch somewhere along the way, does this platform provide a model for the distrabution of music? Or is it another gimmick.
Well, we have to wait until it goes live later this week. I for one will be signing up, to get some of my music 'out there' with the possiblity, [however slight] of some return for this, and the fact that i can no longer access my myspace page!
DOES ANYONE KNOW ANY MORE ABOUT THIS SITE??
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First I've heard of it..
...but will be investigating further. I've always preferred Myspace over Facebook, but recently it's just been too overloaded with advertisements for itself. We'll see how this is presented.
re: heard of this
I think it's a really good idea. I signed up and was selected for the beta testing last week. I like the theme of Kerchoonz. There were still bugs with their player when I joined. It's a social site like facebook. The music section lets you upload a lot of songs. I uploaded three albums. When I upload, it asks me if I have an ISRC code or not and information about the songwriter's (which is obviously for paying songwriters and musicians). When I answered "no" to the ISRC code question, it automatically assigned a code to my song. This is great because since I'm not on a label. There is a part of the site that explains the subscriptions for labels and musician's. It costs £12.50/ year for a band to join the site and I'm guessing that this is just a simple admin fee. From what I've heard, bands get paid a penny per stream and we get paid up to 20cents per download and the money comes from a share of advertising that appears on the page.
This is the part on the site that I liked the most which explains their 'ethos': (copy pasted from the kerchoonz website)
Kerchoonz is a place where musicians, artists, film makers, fans, business people, and technologists can meet and exchange in a free and open environment. Our mission is to provide a social platform that enables all of us to explore and create, listen and be heard, give. receive, and discover. Kerchoonz was founded by musicians who believe that arists and musicians should be encouraged and also compensated for their work. Kerchoonz is committed to upholding the following principles:
We Believe...
- music and art should be compensated even if it is offered 'free' to the public.
- in transparency and honesty in our business practices.
- in leveling the playing field and promoting fair play.
-in empowering artists and providing tools to help facilitate their creativity.
-in creative freedom and encourage artists to explore, invent, discover and thrive.
- in the power of people and maintaining a personal touch. Technology can never replace human interaction or human spirit.
-in partnership and encourage suggestion and constructive criticism.
-in change and aspire to embrace new ideas, technologies and possibilities.
-in collaboration, not domination.
-we have a responsibility to protect and encourage the regeneration of art in all of it's forms.
-in the future.
-in ideas.
-in Kerchoonz.
- in you.
hhhmmm
no so sure about the 'in you' bit...