Yes and it's named Rdio. This is how it works for a flat based monthly fee you will be able to access your library of songs from your computer or mobile phone even when your off-line. This cloud based computing platform allows users to freely access their music either from their computers or mobile phone anywhere.

There is also another point to be noted here. This is going to be a twitter style music sharing site. Where songs your listening to now can be seen by other users and this helps to educate people on the site as to the kinds of music and songs out there. You can also share the stuff you like on Twitter and Facebook.