iLike runs off private funding from contributors such as Ticketmaster but now has announced an ad platform "aimed at concert promoters, artists and bands, enabling them to target users based on several criteria such as music taste and location."
The site says the full streaming of tracks only works on the main site right now but will soon work with all their popular web applications on social networking sites such as Facebook, MySpace and Bebo.
Artists also get some type of royalty each time one of their songs is played.