The new service is provided by Roxio, who acquired the Napster name after the 'proper' Napster was closed down, will offer users an iTunes-style pay-as-you-go service. It will also allow users to email 30 second clips of tracks to their friends.
Roxio chairman Chris Gorog said: "October 29th is a cause for celebration for music fans everywhere... this concert is a way for us to bring the cutting edge artists of the day to the fans that make it all happen."