If you love podcasting and new media, you need to be a part of this movement. An independent band is releasing a song called Mine Again today and wants you to spend just 99-cents and 2-minutes of your time to head over to iTunes to buy it. The goal is to demonstrate the power of social media to help this song debut at #1 in iTunes.

Now, if you’re thinking these chaps are going to get rich off of this thing, think again. Half of the proceeds they receive will be donated to a college scholarship. We give to them, they give to a deserving student.

Go here for more details. Then, Bum Rush the Charts (click on the big blue button at the top that says Buy Mine Again).

Update: Looks like there’s a flame out happening on Digg. Not everyone is down with this, although the Washington Post did a story.