iJigg combines the idea of Digg with music. You can post music like you submit stories on Digg and visitors can listen to them on a little Flash player attached to each post. Users can then Digg Jigg the song.
The developers have commented on Digg that it’s like youtube as well. I’m guessing that’s the case since you can embed the song in your site/blog, or they’re a little optimistic. In any case, they shouldn’t limit themselves to just music. Eventually they’ll probably move up to video for music videos. Bandwidth, I’m assuming, is the issue for this startup.