Yes. Even though you can host your files on a free site like MySpace, I recommend you spend the $40 per year for a domain and hosting for your own dot com Website. Here's why:
Do you remember a Website called MP3.com? Before MySpace and before Napster brought the industry to their knees, MP3.com was THE website to upload your songs to and many bands used it as a surrogate for a real Website. One day (and abruptly), MP3.com closed down their free service and all the bands were out of luck, many missing out on thousands of fans that they failed to point to their own Website. They have since resurfaced, but it was too late for thousands of bands and music lovers. You never know if MySpace will power down their servers in favor of something else. Be safe.
