As an idea it has merit but sadly I don't see it taking off until the blockchain can also become the storage medium.

Music is almost an idea data type for blockchain storage because it has no need for constant updates, however the speed of access is dependent on all the nodes being active at any one time and using torrent technology to stream the files.

The alternative is a server, at which point you've removed the point of decentralisation and may as well have not bothered.