The company’s CEO writes:

“We’ve went from being free to be charged, to giving 90% of sales, to giving back all the sales earnings. We’ve finally can say that we have raise the bar even higher by providing you guys an ABSOLUTE digital distribution service. As of now, WaTunes will enable it’s customers to continue to sell unlimited music, earn 100% of the royalties, and more, ALL FOR FREE! There are no fees, cancellations, no gimmicks.”

So, after making its service free for independent artists, the company seems to make no money directly. But the site’s CEO explains that the site is planning to launch a music based social network like MySpace Music where users can buy songs. The company plans to make money from it.