From Profy:
Grooveshark is a new monetized music sharing application currently in private beta. Grooveshark has a simple business idea: everyone in music getting paid. Their lofty goal is to change the music industry, and after having used their site for a few days to try it out, I think they might just succeed.
Much of their potential for success replies on their main claim being true: that their service is legal because they can make sure the artists and labels get royalties using a P2P system to play, download and buy music. In their business model, the user whose playlist generates the sale also gets a cut. They outline it as the artist and label getting paid first, then the user, then Grooveshark. Now that’s a music democracy!
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