US based music download service from Beyond Oblivion will be re-launching its self as Boinc in the UK and the US in autumn.
The service, which hopes to give competition to Apple’s iTunes and Spotify, will come pre-installed in some smartphones and personal computers and will also be available as a paid for app for iPhone and Android users enabling users to “download and share as much music as they want for the lifetime of their device”.
Beyond Oblivion, which is partly owned by Rupert Murdoch’s News Corp, has also secured a deal with prominent PC and smartphone vendors to make the service available on devices, meaning that it will be available for free for some users. News Corp. invested around $11 million in the company in two parts, the first being in April last year and the second in March this year.
The company had reported back in March that it was in advanced stages of talks with top music labels including Universal, Warner Music, Sony and EMI. However, the talks had stalled as the music labels demanded a huge upfront payment, The Guardian reports.
Beyond Oblivion will be paying 70 percent of its annual revenue to record labels every year apart from the royalty fee which the labels will receive every time their song is streamed.
Chief digital officer News Corp., Jon Miller, added: "Our additional investment in this business serves as an endorsement of the progress that Beyond Oblivion has made in bringing this innovative new music product to market."