on Friday announced Live 4, a major new upgrade to its music making software. New features in the software include the ability to drag and drop MIDI effects and instruments into a track; a new “Simpler” sampling instrument that supports instant sampling and polyphonic playback of any sound dragged into its display; drag and drop MIDI clip creation, and the ability to manage MIDI clip loop settings like audio clips; support for MIDI overdubbing onto looped clips; more flexible track setup and recording options and much more. Ableton plans to ship Live 4 for Mac and Windows by the end of July, 2004. It will cost US$499, or $119 to upgrade from previous versions. Customers who have purchased Live 3 after May 15, 2004 are eligible for a free upgrade.