Would not a service like this suffer from the same "discoverability" problems like the iOS App Store? Why would it be better to be part of a service like this rather than running your own store?
From what I know jamendo licensing is a stock music websites that does not require you to be exlusivly on their platform.
So this means that they could still keep their music on their own website and distribute their music directly to their visitors but also offer their music through jamendo to a much broader audience.
I would recommend them to give it a try, it won't cost them much effort to read the jamendo legal stuff, then open an account and upload their tracks. Some months later based on the stats I would decide to stay or leave, because its hard to know if something will work for you if you don't try it out.