Pepsi and think crowdsourcing is cool–do you?

So I’m laying on my couch, watching my stories (one of my many reality tv shows that Kevin likes to call “stories”) when a commercial comes on.  Usually I flip over to E! during this time to catch up on my news, but for some reason, this commercial caught my attention., from the Black Eyed Peas, was sitting in a studio, trying to mix some music (forgive me, I clearly lack the lingo for this) and wasn’t “feelin it.” He started walking the streets of what looked like New York and WHAM – every street he turned on had some sort of magical inspiration for him.  From a boy banging on buckets, to basketballs being dribbled, to a woman humming – he came up with an idea to record all these sounds and mix them together, which would in turn create his next huge hit.

I looked into this commercial further and learned has partnered with Pepsi to create a unique music collaboration for the “Ultimate Refresh” of the new single “La La La” by electro hip-hop duo LMFAO.  is joining Pepsi and LMFAO to produce a user-generated video and music track that will be available to consumers in December 2009.  This very smart company, Reality Digital, developed an application specifically for this Pepsi Challenge.  The QuadMasher(TM), takes all these noises, sounds and music and basically “mashes” them all together.  Basically the contest is asking music lovers to produce their own version of LMFAO’s “La La La,” showcasing one of four talents: vocals, melody, chords or percussion.  The winners will then be on the actual new single. For more information on this project, click here.

Pretty cool right?  Or is it?  What do you think?  Do you think this is a cutting-edge idea for the music industry, which will ultimately generate more crowdsourced songs like this or do you think is selling out?  What other industries do you think will move towards having a crowdsourced option?