This is a great vision, but I think there’s a key piece of the puzzle you’re missing: musicians will not necessarily be able/want to make these themselves. They’ll need savvy designers to step in and create these for them. And the number of those that could create this multimedia webpage experience is much smaller than the number that can do old fashioned album covers today
Today, bands have their album covers made by everyone from professional top end designers to the guy in the band who knows how to use a scanner to the company doing the CD manufacturing.
The narrower, more technical skills required to make this new kind of art (or to even understand what it is) limits the potential size of the maker pool. One of the main groups of people you’ll need to sell is the MySpace designers, the ones who spiff up your MySpace page for you.
And there you’ve got a chicken-and-the-egg problem: how does this pool of artists arise without the artists already knowing that this is something they need. How does the market get created without the demand being in place? And how does the demand come into place without experts trying to explain it to the poor artists so they can make a sale?
I’d love to see this become real, but how do we get around the same old problem that artists won’t/can’t make their own websites?