Why aren't Mp3 downloads treated like radio?

I run this free mp3 download website called freemp3.com.au. Currently the website exists for independent artists. I derive revenue through banner advertising for top 40 style downloads.

An artist was speaking to me the other day and he wants to charge for downloads from my site, this started me thinking. Could you imagine if you had to pay to hit record on your old getto blaster when a good song came on the radio ? What did record labels do to ensure that they still got cash? started making blank cassette tapes.

How does the artist and label get to make money if you can download their music for free ? This is the multi million dollar question. to which I believe I have the answers

1. Would you pay say $5 to see a live online broadcast of your favourite band 'jamming' or playing a live gig in another country ? I know I would and I bet millions of other people would also.

2. Would you pay $100 to chat to your favourite artist/band for 2 minutes ? I'd bet millions of people would.