Amazon and Pepsi are planning to launch a yearlong promotion to give away 1 billion MP3s from Amazon's recently launched MP3 download store. The promotion will launch during the Super Bowl on Feb 3rd.

Here's how it works. Pepsi will print a code on 5 billion bottle caps. You can use the codes from 5 bottle caps to buy one song at Amazon Mp3.

Right now, that means you can buy DRM-free tracks from artists signed to EMI, Universal Music Group, Hollywood Records, and a number of smaller labels. Warner and Sony have not yet signed up with Amazon. But Billboard reports that the promotion could be incentive for the holdouts to sign up. That plus Wal-Mart is urging the music labels to participate in its DRM-free MP3 store.

This isn't the first time Pepsi's gotten involved in a major music promotion. Pepsi and Apple partnered in 2004 for a Super Bowl campaign to promote the iTunes music store. Of course, the goal at the time was to give away 25 million tracks, while customers only redeemed about 5 million. So just because Amazon and Pepsi say they've got 1 billion songs to give away doesn't mean they'll actually be delivering anywhere near that number.

[via paidContent]