Kim Dotcom (of Megaupload/Mega fame) has soft-launched a new music service, and it looks intriguing. The Internet entrepreneur is advertising the platform through his own profile, baboom.com/kimdotcom, where he has also released an album called Good Times (which he's rightfully calling "the first album ever released on Baboom").

Baboom seems to be a place for artists to upload music and build an online presence, and he's calling it a cross between iTunes and Spotify. According to TorrentFreak, "Baboom will give the public access to free music, while compensating artists through advertising revenue." There will also be a paid version of the site. Will these methods be enough to take on the bigger players in the music industry? We'll see what Baboom has in store. To stay in the know, sign up here.

Spotify throws its weight (and money) around in the battle for music streaming