Dotcom has already secured several millions in funding for the project and there are currently 22 developers working on it. Unlike Mega, Baboom will be operated by a company owned by the Internet entrepreneur himself.
With Baboom, Dotcom strongly believes that he can revolutionize the music industry and give artists full control over their music again.
“I am really excited about Baboom. I can’t wait for artists to see what i have created for them. Their entire career can be managed on Baboom.”
Here’s a breakdown of the concept behind Baboom:
When it’s released Baboom will give the public access to free music, while compensating artists through advertising revenue. With this “free music” business model Dotcom believes he can decrease music piracy while giving artists proper compensation for their work.
In addition, Baboom is expected to have a paid version where music fans can pay for music and not be bothered by ads.
[Giving artists full control over their music sounds a lot like Bandcamp to me. Will be interesting to see if this service takes off.]