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Music service Beyond Oblivion collapses into oblivion Beyond Oblivion, which was partly owned by News Corp and had raised $87m (55.
8m) from investors, closed down last week, raising doubts over News Corp's digital strategy and fears that a second internet bubble is building. The closure was confirmed by Adam Kidron, the British record producer and entrepreneur, who describes himself as chief executive officer and imagineer of Beyond Oblivion and a "brand and lifestyle prognosticator". His idea, which caught the imagination of the music industry, as well as consumers, was to offer an online music service that would be not only completely free of subscription fees but also free from advertising. The service was a cloud based service allowing users to store and share music across multiple devices MP3 players, mobile phones, pandora jewelry gold bracelet and computers. It intended to pay a royalty to pandora web archive record labels each time their music was played. This would be funded by charging consumers a flat fee on the hardware be it a mobile phone or computer. It is understood that Beyond Oblivion struggled to persuade the hardware manufacturers to collect the money from shoppers when they bought the product. It is understood that the service, which was to be called Boinc, had burnt through its $87m, raised from not just News Corp but also the Wellcome Foundation. Various online companies are either planning to, or have floated, with sky high valuations in recent months. Groupon, the voucher website, was valued at $13bn when it floated, and Pandora the loss making music service floated at $4bn. It is expected Facebook could be valued at $100bn. Beyond Oblivion is the latest digital investment by News Corp to fail to take off. News Corp's $580m purchase where to buy pandora bracelet online of MySpace was a cheap real pandora bracelets failure, with the company forced to sell it for just $35m last summer. 'The Daily', its iPad only newspaper, has also failed to make an impact.
Mr Kidron, in a statement, blamed the failure of Beyond Oblivion on the difficulty of "co ordinating the diversity of the ecosystem" which included artists, labels and manufacturers. "Beyond was always a tremendously grand ambition as the advances required by the record labels and music publishers were substantial, reflecting the breadth of the rights required to create a true digital music one stop," said Mr Kidron, who signed off the statement with the words: "Until victory always.".