Billed as "a first-of-its-kind, live-music purchase platform", Stereocast gives fans access to purchase as little as one song or the entire show for download immediately upon exiting the concert venue.

Stereocast will officially launch with the opening night of Foreigner's all-acoustic tour at The Theatre at Westbury in New York on February 11. All proceeds from purchases made on the new music app will go straight to the Grammy Foundation, which helps to provide funding for high school music programs.

"We are pleased to be partnering with StereoCast on this new initiative," says guitarist Mick Jones. "As we move into the digital age, we are always looking for new ways to make our music available in the most innovative manner. To walk away from our concerts with an immediate download of the once-in-a-lifetime moments meets that criteria.