It’s been four months since internet service Megaupload crumbled, after the United States Government shutdown Megaupload leading to the arrest of four employees during a raid in Auckland, New Zealand, but the website’s mogul, Kim Dotcom has announced a new musical venture in a bid to rebuild his business empire.
Currently under house arrest with all of his assets frozen, following a grand jury indictment that accused Megaupload.com of costing copyright holders more than $US500 million in lost revenue from pirated films, music, and other copyrighted content; Mashable reports that nevertheless, Dotcom has already laid out plans to launch a global music streaming service that will directly compete with the likes of Spotify, the recently Australian launched Mog and Rdio.
The new streaming venture entitled “Megabox”, was first announced by a tweet from Dotcom about the service saying:
The major Record Labels thought Megabox is dead. Artists rejoice. It is coming and it will unchain you. instagr.am/p/MHNAsPMkep/
— Kim Dotcom (@KimDotcom) June 20, 2012
In the past, the eccentric entrepreneur has made noises that Megabox would allow artists to keep 90% of the profits earned from their streamed music, an instagram showing an in-development android app, also boasts the tagline “unlimited space for all your music”, offering unlimited music uploads for free.
Dotcom may find it difficult to launch such a program considering he’s currently awaiting a decision that may seem him extradited to the US to face further piracy charges as well as allegations that he was behind the anonymous hacking attempts made on the websites of the Recording Industry Association of America, the Justice Department and the Motion Picture Association of America; following Megaupload’s dissolve.
Whether Dotcom will be able to put his money where his mouth is will all depend on the outcome of his extradition hearing, set for August.
