There seems to be a growing movement towards online karaoke. First there was kSolo which got bought by Fox for no less than $5 million back in May, then there was the 'online contests made possible' Bix which I profiled a couple of weeks ago, and now following the same path is San Fransisco-based SingShot.
With a YouTube-inspired interface (and this is a good thing), SingShot enables two things. Users can make their own karaokes on popular songs approximately three years or older in their own virtual recording studio, or watch and listen to others' recordings. As we've seen from the recent past, whether it's YouTube or American Idol, people surprisingly find seeing other bad singers as amusing as themselves singing, so for sure, SingShot and others in this online karaoke space have a chance.
SingShot is based on a subscription-based model, which I'm uncertain will fully work. Things like watching others' karaokes, rating, commenting, and maintaining a profile are free, although to make your own recordings you get a 14-day trial after which you have the option of paying up to $10 a month to keep.
One of the things I noticed while I tried out SingShot is that it's quite addictive. You may feel a little scared off at first, but once you've watched a few others' and made your own couple, watch the clock because it's not to say how many hours may pass before you look at it again.