Hit or Not is a social network game on Facebook. It works like this: You listen to a clip of music from a band, and rate it. You lose or score points by how close your rating is to the average rating of other users. If you like, you can "sign" the band (the fantasy being that you're running a label), and if the band "does well" (rises in ranking) you gain additional game money. You can also "sell" acts you have "bought" for a one-time gain, a "predictions market" effect.
The developers allow basically any artist willing to upload a song to feature their music on the site. The game offers players the opportunity to purchase a full mp3 of any song they listen to, sharing some of that income with the artist. In addition, the game has the usual SN game limits on energy ("battery power") and game money, and you can pay actual money to get more. So the business model here is obvious.
It's an interesting and novel approach to social network gaming; it is, however, flawed in at least two regards.
First, you aren't actually rating the music as to how well you like it; instead, you're attempting to predict how the average user, that is, the tasteless monkeys who constitute the vast bulk of the public, will respond. Thus, your score is not based on your taste, but on your ability to predict the taste of the hoi polloi. Actually, that's not even true; your score is based on your ability to predict what the hoi polloi will predict is the taste of the masses; it's two levels of indirection removed from actual taste.
Second, while the service may be of use to artists, both through direct sales to players, and through the promotion effect of being rated highly in the game (leaderboards that show the most popular songs are available on the top menu), it is not useful to players as a song discovery mechanism. That is, the service does not pipe music to me on a "recommendations system" basis, serving music that others who rate things the way I do like -- in the fashion of Amazon recommendations. If it did, it would help me find music I like. Instead, it seems to pipe music at me randomly. It's not intended to benefit me; it's intended to benefit artists. (Well, and the developer, which retails the artists' work.)
Consequently, unless you find it enjoyable to try to predict what kind of music stupid people will like (or rather, what kind of music stupid people will predict other stupid people will like), you will probably not enjoy it for long.
And yet -- it is an interesting and novel use of social network gameplay, and even if the basis of the game is not well thought through, at least it displays more creativity than yet-another-snorepeg.
A pity, in a way; if they'd tied a recommendations system to it, it would actually be useful, and along with modest gameplay dynamics, would help sustain repeated engagement.