A new online music store called Puretunes, which debuts today, demonstrates the record labels’ problem. Based in Madrid, Puretunes claims to comply with Spanish copyright law. But it’s not sanctioned by the labels. And although the site offers to pay the labels something for their music, it takes an all-you-can-eat approach that will put a lot less money per track in the labels’ pockets than authorized music sites do.

Prices on Puretunes start at $3.99 — for downloading an unlimited number of songs over eight hours. By contrast, the label-backed services, such as Apple Computer Inc.’s iTunes Music Store, typically charge 99 cents for a downloadable song that can be saved permanently on a CD. For the price of four songs at the iTunes Music Store, someone with a fast Internet connection could download more than 400 from Puretunes.

More here.