it is...

www.magnatune.com

i have only just begun exploring it. it has NO content whatsoever from MAINSTREAM artists, but you can stream anything you want to try it out. prices blow out the itunes store ($5 an album).

some of the electronica stuff has been very nice that i've listened to. heck, it's worth checking out alone for some of the articles the main guy has posted about the recording industry (particularly for small record labels).

i would also like to mention, if you like ambient music, one VERY big name is there. RAPOON.

if you have not heard of rapoon, it's one bloke named robin storey. he was one of the founding members of :zoviet*france: (you are TRULY into industrial music if you know :Z*F:). there's about 6 albums. i have most of them already (yes, i legally purchased them) but if you like TRUE, deep ambience, there's few better than storey. tape loop manipulations of instruments slowed to dead crawls and then looped and relooped to infinity, rapoon can be angelic and delicate, or dark and mysterious. and sometimes pretty farking scary. EXCELLENT STUFF. this site is worth going to alone for rapoon, and stay to check the other stuff out.