This is almost to ridiculous to be true.

The major music labels are so concerned about Apple’s dominance in the world of digital music that they are betting their future on Napster.

The major labels have teamed up with Napster to offer what they are calling “the world’s largest and most comprehensive MP3 store.”

Yep - the labels are so intent on breaking Apple’s dominance in the world of digital music that they are giving Napster - the brand that RIAA head Hilary Rosen once called “both morally and legally wrong” - the opportunity to distribute more music as MP3 than Apple.

Per Napster’s announcement:

Napster’s download store is more than 50% larger than any other MP3 store and boasts not only the largest major label MP3 catalog in the industry, but also the largest library of independent music available anywhere. All Napster download sales in the U.S. will now be in the user-friendly, DRM-free MP3 format, which is compatible with virtually any MP3 player or music phone, including the iPod and the iPhone. Napster is the first music subscription service featuring major label content to offer 100% of its catalog in the MP3 format for download sales.

Pricing for download sales is 99 cents for single MP3 tracks and $9.95 for most MP3 albums.

DRM-free MP3s are great.

The music industry betting its future on Napster, though? Sorta pathetic.