Now this is hot. Tower Records plans on releasing a new online service called TowerPod that "lets consumers create their own podcasts using a catalog of some 6,000 songs, which Tower will provide free." (via PaidContent.org).

How will this be monetized? PaidContent tells us:

Tower intends to generate revenue from the podcasts by selling ads on the most popular ones: Any money generated will be split up among a large group that includes the user who created the podcast, the artist, the label and the publishers who created or own the music, as well as Tower itself.

Major labels don't want to participate, but eventually, they'll have no choice.

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