Neil Young has taken the helm at PonoMusic making him a technology CEO for the first time in his career. PonoMusic is an idea started by Mr. Young which resembles a music streaming platform.

Young helped gain 18,000 backers during the Kick starter campaign for the service. The company is designing a portable music player and creating an online store which will compete with rivals like Apple on high resolution music.

PonoMusic is meant to revamp the music provider industry. With a big name like Neil Young leading the way, expect the company to make some big impacts in the first months of their launch.

The website store is expected to launch in the United Kingdom, Canada and the United States, with pricing starting anywhere between $15 and $25 per album. The website itself is expected to launch by the end of this year.

Neil Young has appointed some of his old friends as directors and leaders in the company. One of those friends happens to by Neil’s longest standing adviser, Rick Cohen, who Neil appointed as Chief Operating Officer of the company.

With a great name leading the company and an emerging market for their product, PonoMusic will be making a name for itself sometime near the end of 2014.