Beyond Oblivion, a media company part-owned by News Corp. has unveiled a pay-once music download service to launch later this year, named Boinc.

The Spotify competitor hopes to differentiate itself as a service that requires only a one-off payment as opposed to a monthly subscription, as well as by coming bundled with PC, tablet and smartphone hardware.

Silly name aside, it's an interesting proposition for consumers; one payment sees you synced to a music service whereby you can enjoy unlimited downloads (stored in an intelligent caching system on your phone/PC/tablet) forevermore, with replacement devices able to take over if you lose or break your gadget.

Craig David all over your Boinc

Boinc claims to have deals with a "leading" PC maker and smartphone manufacturer in the works, as well as talks with Universal, EMI, Sony Music and Warner Music for its song catalogue reportedly nearing completion.

We can't help but worry it's not a sustainable money spinner, however; with one-off income from each user and 70 per cent of its annual fees going to the rights holders on top of royalty pay-per-play costs, it doesn't leave much for the company itself.

Spotify, for example, has long struggled to turn a profit, having had to take drastic measures in order to lure customers into shelling out £5 or £10 a month for a premium subscription.

However, Boinc tells us that it will be making most of its moolah from major deals with manufacturers and networks, who it hopes will buy mass Boinc licenses, so the consumer will never see the cost.

Boinc your own device

Call us cynical, but we can't help but feel it sounds too good to be true:

"Unlike any other service currently in the marketplace Boinc offers users access to all music with no download charges, no monthly subscription fees and no ads – while also ensuring artists are fairly compensated," said Adam Kidron, Beyond Oblivion's founder and chief executive.

The company will also be selling Boinc as a paid-for app on iOS and Android devices, with an invite-only beta to hit the UK and US in October.

If you don't get a bundled account with your phone, the Boinc app is set to launch with a price-tag of around $50 (£30). For unlimited music, though, that seems like quite good value.

All being well, the service will fully launch on our fair shores before the end of the year (presumably that's dependent on all its various deals falling in to place though – we won't hold our breath).

Via The Guardian