LG Mobile Phones unveiled a new online social network that aims to discover new artists. "LG: Rally for Music" is much like other social networks in that it allows members to set up profiles and connect with other like-minded members based on common music tastes.

The site features a contest where members submit videos of themselves performing that are then rated and reviewed by the community. The top four contestants will face off in a live competition in August in New York, which will be broadcast on the site. The winner receives $15,000.

LG additionally has included a widget extension for the site, so members can promote their favorite contestants on their MySpace or Facebook profiles.

No direct mobile element was announced, so perhaps the site is just a branding/advertising initiative for the mobile phones division. The broader LG Electronics parent company is providing prizes like HDTVs, MP3 players and mobile phones for a monthly sweepstakes to regular members.