Similar to Cycling '74: http://cycling74.com/products/c74music/
Now keeping in vein with the Pd community; Back in the day, I released original music on a (free) net label based in Manchester, UK called "Hippocamp." It was a fantastic electronic community with peeps from all over the world. Sadly, no one had the time to continue running it.
All releases were free to download and all under Creative Commons License. All music was stored on http://archive.org. I got my first every national BBC radio airplay thanks to this kind of operation.
Just a thought, perhaps worth considering.
Ricky