Its fine to do something online without a profit motive, however, it doesn't take too long when streaming audio to hit bandwidth limits, unless you have a large wallet. I only mention this, as its a good idea to make provisions for a revenue stream now, as it will be easier later on with good planning. Too many great sites died when the financial burden on the owner got to be too large to fund anymore. At that time, it may be too late to try and raise revenue.
One other thought, ftp can open the doors for major security issues, and may be beyond the average user to figure out. Its a major usability issue.
Now, the exception might be if you restrict your focus to regional bands, that way you can always help them personally, and generating a regional following may be easier than a world wide one. In addition, it would really set your site apart, and imho would be really cool. Once you have one region set up and running, then expand to othters as your time allows.
Ron