NEW YORK (Hypebot) – Beyond Oblivion, a new music locker service, has received a massive $77 million investment from News Corp and charity Welcome Trust.
Rather than fight the major labels like MP3tunes, Beyond Oblivion plans to buy its way into their heart. It has assured rights holders a $500 million revenue guarantee, and will give between 70% and 90% of its total revenue to them.
Beyond Oblivion intends to charge device makers a one-time free to have its software pre-installed on their devices. It will then pay content owners every time a song – of any origin, legal or not – plays through the software.
The goal of Beyond Oblivion is to monetize all forms of music consumption.
Given that the major labels are still fighting digital lockers, for fear that file-sharers would be allowed to gain access to pirated music, the company hopes to pacify their concerns by paying them for such uses.
