Kim Dotcom Will Float Baboom Music ServiceAdded: Tuesday, July 22nd, 2014
Category: Recent Headlines Involving File Sharing > Current Events
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, 2013, www.extratorrent.cc
Ex-MegaUpload founder Kim Dotcom is going to raise AU$4.5 million for his new digital music service by taking it public on the Australian Securities Exchange by the end of the year. The potential investors have received a 41-page prospectus with the plans, which were also published on Baboom’s website. The company is going to issue up to 11.25 million shares at AU$0.40 each.
Baboom is a platform where artists can upload their music and make it available for fans to stream or download. Kim Dotcom soft-launched the site early in 2014 with a single artist: himself.
The prospectus sent out to potential investors outlined the strategy of blending streams, downloads, artist profile pages and social updates. Apparently, the musicians will be able to sell downloads along with giving them away, at the same time selling tickets and merchandise. The service also suggests that its visitors will earn “credits” for free music if they watch targeted ads, for storing their existing music collections in digital lockers up to 50GB, and for playing music from the website and mobile apps. Baboom will launch an “open (controlled) beta” in the III quarter of 2014, and a full launch is expected by the end of the year.
Nowadays, when such platforms as Spotify, Rdio and Pandora have set the standards for music streaming services, there is still a lot to do to make streaming fully replace other audio formats. Of course, Dotcom understands that Baboom is entering a crowded market, but the service is going to prosper by differentiating itself with lossless audio, in-depth artist profiling and backwards compatibility with legacy audio formats.
New music streaming service will initially be promoted to the 8.4 million users of Kim’s other venture, Mega storage service. It is going to make money from its 10% cut of music downloads sold through the service, along with advertising and subscriptions for “original, exclusive or first-listen material”.
According to the industry observers, if Baboom was being launched by anyone other than Dotcom, music labels and publishers would have been jumping at the chance to license it. But Kim’s background (he is still facing criminal and civil copyright infringement charges, and is fighting extradition to the US) is likely to put many content creators and copyright owners off Baboom. However, Dotcom is officially running neither Baboom nor Mega himself: the platform’s CEO is media and entertainment lawyer Grant Edmundson.
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Tuesday, July 22nd, 2014
|What Spotify pays the artist in Royalties per play is worse then you can imagine. Its ridicules something like .007 cents. Its a joke. I hope Dotcom entices the Indies and pays them for their efforts. Look at what just happened at the Grammy, a female Indie artist after 20 years was selected by her peers for a Grammy Award and because she was an Indie, not signed up to a major label, the Music Industry decided this was never to happen again. The Music Industry formed a committee to scrutinize any Grammy submissions to make sure they stay in control of the Industry. So much for freedom of choice. I wish people would just boycott anything to do with the Music Industry. I was hoping that someone would get something together mainstream for the Indies. I know they're are some, but I'm hoping for a worldwide recognized name so it cuts into the old business model of total control.|
|So there is life afterall for Dotcom lol.. legit life..|
As for the Indie mentioned by morally_ambiguous and for that unsigned artist, why not create a TORRENT site for this and this only, just a thought
|Dotcom,,lol..i say "take em to the cleaners"..|
|dotcom is getting into govt in 2 months.his crew anyway with the internet party here in NEW ZEALAND with the mana party.hes got alot of backing doing well.whaooooo comon dotcom kick john keys arse we all hate john key our smiling assain for the u.s|
|posted by (2014-07-31 03:42:23)|
|@morally_ambiguous: They pay more than YouTube does by a factor of 10. |
"Keating’s per-stream payout for Spotify was thus $0.0044 in 2013. The streaming service said in December 2013 that its average per-stream payout to music rightsholders is between $0.006 and $0.0084 – a figure that includes payouts to publishers as well as labels (or in Keating’s case, self-releasing artists).
Her Spotify payouts were still a long way ahead of YouTube’s $0.00064 per stream: a single Spotify stream was worth nearly seven YouTube streams in 2013. However, it would take 160 Spotify streams to generate the same income for Keating as a single track sale on iTunes."
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