New York - Former hedge fund operator turned music manager Steven Nowack has launched SOS Records, a record label that promises to offer all of its music as free MP3s at WeLoveFreeMusic.com. The venture was announced at a press event in New York yesterday that featured the support of Archbishop Desmond Tutu, who called the idea of an online portal for free music "incredibly powerful" during a chance meeting with Nowack. The label aims to offer one new free song each day, but will also distribute physical products. Initial SOS Records artists include Naomi Striemer, Idrissa Diop and Mario Winans.

New York - Hedge fund operator and S Records founder Steven Nowack plans to launch a new music discovery and delivery service at a press conference in New York tomorrow, which will be attended by the Archbishop Desmond Tutu.