The service is to be built into a range of PCs and smartphones, making it free to many users, and the makers have already secured deals with leading manufacturers. It will also be available as a paid-for application on iPhone and Android phones.
Boinc will be launched later this year and will be invite-only in the first instance for UK and US music lovers. It will pay labels up front in order to be able to access their vast catalogues.
The company is part owned by News Corp which invested a reported $9.2 million for a 23% stake in the firm back in April.
The news comes as Google and Amazon have both unveiled cloud-based music players and Blackberry maker Rim is due to release its own subscription service for owners of their handsets.
Boinc is designed to be a low-cost alternative to many of the current music services on offer and there are no subscription fees to pay. The company says the service will be funded by “charging device manufactures for licences to bundle it with their products.”
“The gamble is that consumers will renew their devices before they play more songs than they’ve paid for,” the blog for the service explained.
Boinc will roll out sometime soon, as the company said that it would release not long after the Malaysian launch last month.
The company is calling the date “music liberation day” – so we expect nothing less than music execs dancing in the street (it’d probably be less painful than watching Mick Jagger, anyway - ed)