Beyond Oblivion has revealed more details on its planned music service, which will now go under the brand name Boinc according to the Financial Times. The company is still planning to bundle its cost into the price of devices, with a private beta due to kick off in the UK and US this October in advance of a full launch this side of Christmas. But who with? The company claims it is close to signing – in the FT’s words – ‘a large PC manufacturer and a leading smartphone maker” to make Boinc available, although it will also be available standalone for users to sign up (and pay) for. “We are now gearing up for commercial launch in the UK and US, and will be revealing news about global music licensing agreements and commercial partnerships in the coming weeks,” says CEO Adam Kidron. The company has apparently promised a minimum 70% of its total annual revenues will be paid to rightsholders, with a maximum payout of 92%. However, having already taken $87 million of funding, it seems Beyond Oblivion’s licensing talks with labels are proving a drain on those reserves, or as the FT puts it: ‘It is having to seek extra funds to satisfy their demands for upfront payment to access their catalogues’.
Like what you’ve read here? This is just a snippet from our subscription service.
Our subscribers get the most important digital music news and analysis delivered to them every morning and full reports every week plus access to a massive archive of data and previous reports.
For a free two week trial of Music Ally, sign up here. No strings attached – we promise!