Wow. Another company beat Yahoo’s attempt to re-invent the wheel.

Qtrax, a new legal online file-sharing service that allows fans to download songs for free, said on Sunday it will launch with 25 million to 30 million copyrighted tracks with backing from major labels.

The free service will be funded through advertising revenue that Qtrax will share with the music companies.

Qtrax executives said the company’s digital rights management technology will count the number of times each song has been played in order to fairly compensate artists and rights’ holders, without restricting consumer use.

The company has focused on ensuring that its network is free of spyware or adware such as pop-ups common on many peer-to-peer networks to improve the customer experience.

Any new “service” that requires me to download their software and subject myself to an untold number of ads is not innovative. It’s stupid.

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