The new service, called Radio MX, will build on MusicMatch's existing radio feature that lets users create custom stations featuring music similar to their favorite artists, according to various reports.
MusicMatch Chief Executive Dennis Mudd said his company’s product boasts crisper sound, better customization and no advertising.
He said Radio MX is expected to launch a beta version today, which will cost $5 a month, or $50 a year. The plan is to make songs available for download through the service by late summer. It will likely be set up so users pay for a number of downloads each month.
“We think we can give people music that's pretty close to what they would pick themselves,” Mudd said. “We believe it's going to be the first truly successful pay-music service in the world.”
Before you get too excited, the company has yet to strike any deals with the major record companies for the use of copyrighted material. Just a minor hurdle.
“We've got the architecture, we've got the infrastructure and we've got the technology. What we need are the licenses,” Mudd said, adding that a few lengthy prayers, and the sacrificing of a live goat, which of course would be available online, wouldn’t hurt attempts to secure label support.
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