[wyclif]

I would argue against "EDM" in the name not because it sounds stupid, but because it limits the point of reference to a very specific style of music in a worldwide music-playing web service.

The reason why "Spotify" and "Rdio" are such good names is because musically they are undefined by the service and defined by you; you can listen to almost any kind of music on them. Also I think it's better to avoid acronymns; that can be a little obscure. Don't limit yourself or your business to identity-defining topics. See: Amazon, Zappos, Google, Apple, etc.