So far, there’s no money to be made transmitting songs over phone lines to home computers, which is essentially how the Pigs and dozens of other unknown bands across the country broadcast their music on the Internet. But that’s about to change. Next week the oversexed, overage rock group Aerosmith will become the first major-label band to release an entire, audible song via computer. Both Geffen Records, the band’s label, and CompuServe, the on-line service that will carry the previously unreleased ““Head First,’’ admit this is an experiment and a lure: they’re waiving all royalty and connection fees. ““It’s like drugs – the first one is free,’’ joked Geffen spokesperson Bryn Bridenthal. But as technology improves and e-mail addresses multiply, computer networks could begin to compete with record companies and stores to create and distribute recorded music. If that happens, the industry will change quicker than you can finish replacing your cassettes with CDs.

Warner, RCA and Geffen already provide 30-second music samples on CompuServe, enticing listeners without (they hope) jeopardizing sales. And on the largely unregulated Internet, songs by major groups are readily available, provided – illegally – by fans promoting their favorite bands. The only thing stopping computer nerds and networks from taking over the music industry this nanosecond is the technology. ““Downloading,’’ or transferring, music from computer networks to a personal computer takes time. ““Head First’’ requires 60 to 90 minutes to download, which would cost about $15 in on-line time – too much even for vintage Aerosmith riffs and double-entendres. (Unless you’re a major fan – once Geffen pulls ““Head First’’ from CompuServe after a week, it will never be re-released.) The equipment needed to produce music varies with each PC, but the sound quality off the computer resembles a stereo radio broadcast, though that doesn’t compare to CD sound.

Computer enthusiasts predict that in five years people will either buy custom-cut CDs with songs plucked from the Internet or skip the store altogether and copy songs onto discs at home right off the Net. Geffen’s ““Head First’’ dive is a first step in figuring out how to get its music on line and still make money. Record stores are also scrambling to keep customers. ““Is retail dead?’’ Sony Music chairman Michael Schulhof asked rhetorically at a convention of record-store merchandisers in March. (He said no, but it took five minutes to explain why.) CompuServe is already suffering future shock. The company is defending a lawsuit brought by 140 music publishers who allege that the company allowed its users to copy 500 copyrighted songs illegally.

But no one is waiting for these problems to be worked out. ““The smart record companies want to be on the Internet now,’’ says Adam Curry, the former MTV VJ who runs On Ramp, a company that helps record labels get on line without getting ripped off. ““We’ll work on issues later.’’ Don’t wait too long. The music world may soon be overrun by Whistle Pigs.