Update: All you IndiePit fans, version 1.5 is coming out on Monday at 12AM PST instead of launch date set for today, the delay was caused because of some technical glitches, the 500 pro accounts for new signups are still a go so hang on and start signing up on 15th June 12AM PST.

If you could recall, we published a post last month about some fantastic sources of indie music online. We missed Indiepit but had to add it, thanks to our engaging readers who pointed out it’s inept absence from the list.

» IndiePit is an online music community for indie artists, where musicians can share their tunes with the world, sell their creations and create an online fan base.

Launched presumably in 2007, Indiepit has been relatively unknown to the masses except the traditionalist indie music fans. Basically Indiepit, without the .com is a company which facilitates the success of independent bands, musicians and labels. And the site is their primary tool. Unlike other supporters of independent music, Indiepit is built from scratch without any venture capital funding or by the backing of any large corporate entities. Says their myspace page.

As per our birdie, they will soon be releasing the next version of the site. The revamp, number 1.5 to be precise shall be out by the 12 of June. We were interested about the new launch so we’ve got some exclusive details on what’s coming new – for our awesome Techie Buzz readers!

A new album management system will be introduced. Unlike version 1.0 where artists could upload only full albums, a new system of rules shall be out which will allow the submission of EPs, LPs and compilations. Artists can now create mixes of their tracks and put them on the site.

The site will soon be working like a mini store for music. Previously, users and fans could download songs for free only if the artist had permitted it. Now with the new update, users can not only download free songs but also buy those which are not free. Artists can either set a straight price for their tracks in which case their album will cost the total cost of the tracks or set a discounted price for the album if the whole of it is bought together. The tracks downloaded will be DRM free and of the original quality in which they were uploaded.

Another freshly baked feature is of the coupon codes. Artists can create coupons which they can give away to their fans to be used on Indiepit for free downloads of their tracks. A feature of great use to indie artists that play at local parties where they can pass on coupons as merchandise or on cards.

If you are an indie fan, artist or label, signing up on Indiepit is worth the time.

IndiePit also offers Pro accounts for artists and bands, and if you’re one, you stand a chance to grab a Pro account on Indiepit if you are amongst the first 500 to signup on June 12!

[ IndiePit ]