The Music Data Exchange Format (MDEF) is a free, open and portable XML based format being developed by Band Metrics for the purpose of sharing data relative to musicians and bands, because presently, there does not exist such a format. This music data exchanged can range from the number of song plays a band has on MySpace to the number of fans they have on Imeem, or the number of comments they have on PureVolume, or the number of subscribers they have to their YouTube Channel.
Yeah, this does need to exist.
The RDFolics have Music Ontology. The Microformatestants have hAudio and hCard. But this is a contribution from the perspective of music coders with running code — where angle brackets are a tool rather than apostasy — and that POV has been underrepresented.