- Initial Statement of Beneficial Ownership (3)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Expires: January 31, 2008 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^*

JMB Capital Partners Master Fund L.P.

2. Date of Event Requiring Statement (MM/DD/YYYY) 7/2/2007

3. Issuer Name and Ticker or Trading Symbol

ARTISTDIRECT INC [ARTDE.OB]

(Last) (First) (Middle)

C/O SMITHWOOD ADVISERS, L.P., 1999 AVENUE OF THE STARS, STE. 2040

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director ___ X ___ 10% Owner
_____ Officer (give title below) _____ Other (specify below)

(Street)

LOS ANGELES, CA 90067

(City) (State) (Zip)

5. If Amendment, Date Original Filed (MM/DD/YYYY)

6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	1916667	D ⁽¹⁾

*Table II - Derivative Securities Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivate Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:
( 1)	These shares were originally registered in the name of JMB Capital Partners, L.P. ("Capital"). On July 2, 2007, all of the assets of Capital were transfered to JMB Capital Partners Master Fund, L.P.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
JMB Capital Partners Master Fund L.P. C/O SMITHWOOD ADVISERS, L.P. 1999 AVENUE OF THE STARS, STE. 2040 LOS ANGELES, CA 90067		X
Smithwood Partners LLC 1999 AVENUE OF THE STARS SUITE 2040 LOS ANGELES, CA 90067		X
Smithwood Advisers, L.P. 1999 AVENUE OF THE STARS SUITE 2040 LOS ANGELES, CA 90067		X
Smithwood General Partner, LLC 1999 AVENUE OF THE STARS SUITE 2040 LOS ANGELES, CA 90067		X
BROOKS JONATHAN 1999 AVENUE OF THE STARS SUITE 2040 LOS ANGELES, CA 90067		X

Signatures
/s/ By Smithwood Partners, LLC, its General Partner, By: Jonathan Brooks, Managing Member		2/11/2009
^** Signature of Reporting Person		Date
By: Jonathan Brooks, Managing Member		2/11/2009
^** Signature of Reporting Person		Date
By: Smithwood General Partner, LLC, its General Partner, By: Jonathan Brooks, Managing Member		2/11/2009
^** Signature of Reporting Person		Date
By Jonathan Brooks, Managing Member		2/11/2009
^** Signature of Reporting Person		Date
Jonathan Brooks		2/11/2009
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.