According to DagensIndustri, pop legends Björn Ulvaeus, Tomas Ledin and Per Gessle are behind a new project which they hope will become Sweden’s biggest music competition – a kind of “Idol” on the web. It drew my attention that artists and songwriters can make money online, says Per Gessle to Dagens Industri.

Behind the contest called “Next Big Thing” is Snowfish.com – the company owned by famous Swedish stars. Anyone who does not already have a record deal can participate in this competition and the idea is that the audience will be a jury and will vote for the winner. It is still unclear if only Swedish citizen will be able to participate in it.

With 100,000 opened accounts, we estimate that around 25,000 are going to be the artists and the rest will be a jury, says Niklas Holmstén, Snowfish CEO. Advertisment revenue is estimated at about 10,000,000 SEK and compensation for the artists will be calculated basing on the number of listeners.

The idea is supported by e.g. Telia Sonera, Spotify, Sony Ericsson and Musikbörsen.

Source: DI.se